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Financial News: Eurozone GDP Expands More Than Expected

Eurozone GDP Expands More Than Expected

10/31/2019 - 06:27:00 (RTTNews)

(RTTNews) - The euro area economy grew more than expected in the third quarter, preliminary flash estimate from Eurostat showed Thursday.

Gross domestic product expanded 0.2 percent sequentially, the same rate as seen in the second quarter. The economy was forecast to grow 0.1 percent.

On a yearly basis, GDP advanced 1.1 percent, slightly slower than the 1.2 percent growth posted a quarter ago, but in line with expectations.

Revised data is due on November 14.

Another report from Eurostat showed that the jobless rate held steady at the lowest since July 2008. The unemployment rate came in at 7.5 percent in September, unchanged from August.

The number of unemployed increased by 33,000 from August o 12.335 million in September.

Meanwhile, the youth unemployment rate rose to 15.9 percent in September from 15.7 percent in August.

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