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Eurozone Economy Outpaces Forecasts with 0.3 Percent Growth
(MENAFN) The currency bloc's economic expansion outpaced initial projections during the third quarter, according to final figures released Friday by Eurostat.
The euro area posted 0.3% quarter-on-quarter growth between July and September, surpassing the 0.2% preliminary estimate and accelerating from the prior quarter's modest 0.1% advance.
Across the broader European Union, economic output climbed 0.4% during the three-month period.
Denmark dominated quarterly performance among member nations, delivering a robust 2.3% GDP increase. Luxembourg and Sweden followed with matching 1.1% expansions.
Conversely, Ireland and Finland experienced identical 0.3% contractions, marking the steepest declines, while Romania's economy shrank 0.2%.
Year-over-year comparisons showed the eurozone advancing 1.4%, trailing the EU's broader 1.6% annual expansion, Eurostat reported.
The eurozone encompasses 20 nations that have adopted the euro as their primary currency.
The euro area posted 0.3% quarter-on-quarter growth between July and September, surpassing the 0.2% preliminary estimate and accelerating from the prior quarter's modest 0.1% advance.
Across the broader European Union, economic output climbed 0.4% during the three-month period.
Denmark dominated quarterly performance among member nations, delivering a robust 2.3% GDP increase. Luxembourg and Sweden followed with matching 1.1% expansions.
Conversely, Ireland and Finland experienced identical 0.3% contractions, marking the steepest declines, while Romania's economy shrank 0.2%.
Year-over-year comparisons showed the eurozone advancing 1.4%, trailing the EU's broader 1.6% annual expansion, Eurostat reported.
The eurozone encompasses 20 nations that have adopted the euro as their primary currency.
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