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Eurozone Economy Surpasses Growth Expectations in Q3
(MENAFN) The economy of the euro area expanded by 0.3% in the third quarter of this year, surpassing preliminary projections, according to final statistics released Friday by Eurostat.
This growth follows a 0.1% quarter-on-quarter increase in the previous quarter. Initially, Eurostat had projected a 0.2% expansion for the July-September period.
Within the European Union as a whole, gross domestic product (GDP) grew by 0.4% over the same timeframe.
Among individual member countries, Denmark recorded the highest quarterly growth, with GDP climbing 2.3%, trailed by Luxembourg and Sweden, each rising 1.1%.
Conversely, Ireland and Finland experienced the steepest declines, with output dropping 0.3% in both nations, while Romania saw a 0.2% reduction.
On a year-over-year basis, the eurozone’s GDP increased by 1.4%, compared with a 1.6% rise across the broader EU, noted Eurostat.
The eurozone comprises the 20 member nations that adopt the euro as their official currency.
This growth follows a 0.1% quarter-on-quarter increase in the previous quarter. Initially, Eurostat had projected a 0.2% expansion for the July-September period.
Within the European Union as a whole, gross domestic product (GDP) grew by 0.4% over the same timeframe.
Among individual member countries, Denmark recorded the highest quarterly growth, with GDP climbing 2.3%, trailed by Luxembourg and Sweden, each rising 1.1%.
Conversely, Ireland and Finland experienced the steepest declines, with output dropping 0.3% in both nations, while Romania saw a 0.2% reduction.
On a year-over-year basis, the eurozone’s GDP increased by 1.4%, compared with a 1.6% rise across the broader EU, noted Eurostat.
The eurozone comprises the 20 member nations that adopt the euro as their official currency.
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