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Financial News: Eurozone GDP Growth Slows In Q3

Eurozone GDP Growth Slows In Q3

10/31/2022 - 06:23:00 (RTTNews)

(RTTNews) - The euro area economy expanded at a slower pace in the third quarter, data published by Eurostat showed on Monday.

Gross domestic product grew 0.2 percent sequentially, slower than the 0.8 percent expansion seen in the second quarter. Economists had forecast the quarterly rate to improve to 1.0 percent.

On a yearly basis, economic growth slowed more than halved to 2.1 percent, as expected, from 4.3 percent a quarter ago.

The EU27 economy also grew only 0.2 percent in the third quarter, weaker than the second quarter's 0.7 percent expansion. The annual growth came in at 2.4 percent, following the 4.3 percent rise in the second quarter.

The next estimates for the third quarter will be released on November 15.

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