Euro Area GDP Growth Above Expectations
The Eurozone economy advanced 0.2 percent in the third quarter of 2014, up from a 0.1 percent expansion reported from April to June. Preliminary figures came in better than expected, as GDP accelerated in France and Germany avoided recession.
11/14/2014 11:12:14 AM
Among Euro Area member states, Greece recorded the highest growth rate (0.7 percent), followed by Slovakia (0.6 percent), Spain (0.5 percent), Latvia (0.4 percent) and France (0.3 percent). Belgium, Portugal, the Netherlands, Estonia and Finland expanded 0.2 percent each and Germany advanced 0.1 percent. Austria showed no growth and Italy and Cyprus contracted by 0.1 percent and 0.4 percent, respectively.
In the European Union (EU28), seasonally adjusted GDP rose by 0.3 percent, up from 0.2 percent expansion reported in previous quarter.
Compared with the same quarter of the previous year, the GDP rose by 0.8 percent in the Euro Area and by 1.3 percent in the EU 28, after +0.8 percent and +1.3 percent respectively in the previous quarter.