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Eurozone Economy Surpasses Initial Growth Estimates
(MENAFN) The euro area economy recorded a 0.3% increase in the third quarter of this year, outperforming preliminary projections, according to the final figures released Friday by Eurostat.
This growth followed a modest 0.1% quarter-on-quarter rise in the previous quarter. For the July-September period, Eurostat had earlier forecasted that the euro area economy would expand by 0.2%.
Across the broader European Union, gross domestic product (GDP) grew by 0.4% during the same timeframe.
Looking at individual member states, Denmark achieved the most robust quarterly expansion, with GDP climbing 2.3%, followed by Luxembourg and Sweden, which both posted 1.1% growth.
In contrast, Ireland and Finland experienced the sharpest declines, with output falling 0.3% in both countries, while Romania recorded a 0.2% contraction.
On a yearly comparison, the eurozone’s GDP rose 1.4%, slightly below the 1.6% expansion reported for the entire EU, according to Eurostat.
The eurozone comprises the 20 member states that have adopted the euro as their official currency.
This growth followed a modest 0.1% quarter-on-quarter rise in the previous quarter. For the July-September period, Eurostat had earlier forecasted that the euro area economy would expand by 0.2%.
Across the broader European Union, gross domestic product (GDP) grew by 0.4% during the same timeframe.
Looking at individual member states, Denmark achieved the most robust quarterly expansion, with GDP climbing 2.3%, followed by Luxembourg and Sweden, which both posted 1.1% growth.
In contrast, Ireland and Finland experienced the sharpest declines, with output falling 0.3% in both countries, while Romania recorded a 0.2% contraction.
On a yearly comparison, the eurozone’s GDP rose 1.4%, slightly below the 1.6% expansion reported for the entire EU, according to Eurostat.
The eurozone comprises the 20 member states that have adopted the euro as their official currency.
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