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Financial News: Eurozone Economic Growth Improves As Estimated

Eurozone Economic Growth Improves As Estimated

11/16/2021 - 05:18:00 (RTTNews)

(RTTNews) - The euro area economy expanded at a slightly faster pace in the third quarter, as previously estimated, flash estimate from Eurostat showed on Tuesday. Gross domestic product grew 2.2 percent from the prior quarter, when it was up 2.1 percent. The rate came in line with the estimate released on October 29.

On a yearly basis, economic growth slowed to 3.7 percent from 14.2 percent in the preceding period. The annual rate also matched the initial estimate. The EU27 GDP advanced 2.1 percent on quarter, taking the annual growth to 3.9 percent in the third quarter.

Further, data showed that the number of employed persons in euro area rose 0.9 percent sequentially, faster than the 0.7 percent rise posted in the second quarter. Likewise, the annual growth improved to 2 percent from 1.9 percent.

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