The euro zone's gross domestic product grew by just 0.4% last year, down from 0.9% in 2002, provisional figures from EU statistics agency Eurostat showed this morning.
In the last quarter of 2003, the zone posted growth of 0.3% compared with the previous three months.
The full 15-member EU - the euro zone plus Britain, Denmark and Sweden - recorded GDP growth of 0.7% last year, against 1% in 2002.
The European Commission meanwhile forecast growth for both the first and second quarters of 2004 in the range of 0.3-0.7%.
'This prediction suggests that the euro area economy is building on the turnaround that took place in the third quarter of 2003,' a Commission statement said.
