Eurozone GDP fell in the third quarter

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.