Eurozone Q3 GDP Growth Confirmed at 0.2%
The Eurozone quarterly economic growth was confirmed at 0.2 percent in the third quarter of 2019, the same as in the previous three-month period, a second estimate showed.
11/14/2019 10:30:55 AM
Germany's economy avoided entering a recession in the third quarter (0.1 percent vs -0.2 percent in Q2), largely driven by public spending and construction. Also, exports rose, while imports remained roughly at the level of the previous quarter.
Meanwhile, GDP growth was unchanged in France (at 0.3 percent), Spain (at 0.4 percent), Italy (at 0.1 percent), the Netherlands (at 0.4 percent), Austria (at 0.1 percent), Cyprus (at 0.7 percent) and Latvia (at 0.7 percent); but slowed in Lithuania (0.1 percent vs 0.9 percent), Finland (0.5 percent vs 0.8 percent) and Portugal (0.3 percent vs 0.6 percent), while picked up in Belgium (0.4 percent vs 0.3 percent) and Slovakia (0.4 percent vs 0.3 percent).
Compared with the same quarter of the previous year, the Euro Area economy grew 1.2 percent in the third quarter, the same as in the previous period and slightly above the preliminary estimate of 1.1 percent.
Considering the European Union as a whole, GDP growth accelerated to 0.3 percent quarter-on-quarter (vs 0.2 percent in Q2); but slowed to 1.3 percent year-on-year (vs 1.4 percent in Q2).