Eurozone GDP fell in the third quarter

By: Trademagazin Date: 2023. 11. 14. 12:20

In line with the first estimate, the GDP of the Eurozone decreased in the third quarter in a quarter-on-quarter comparison, while that of the EU stagnated instead of the previously announced growth, according to the second estimate of Eurostat, the statistical office of the European Union, presented on Tuesday.

Based on the non-final data published by Eurostat on Tuesday, the euro area’s gross domestic product (GDP) decreased by 0.1 percent in the third quarter compared to the second quarter, when a 0.2 percent increase was registered. In the three months ending at the end of September, the GDP in the European Union stagnated instead of the 0.1 percent growth in the first estimate compared to the previous three months, when stagnation was also recorded.

In the euro area, GDP growth slowed to 0.1 percent year-on-year from the 0.5 percent recorded in the second quarter, while in the EU the rate of expansion also slowed to 0.1 percent from the 0.4 percent in the second quarter.

Final GDP data for the third quarter, based on more complete data, will be published on December 7.