Euro zone’s economy increased by nearly two percent in a year

In the third quarter, the GDP of the 16-member euro zone increased by 0.4 percent, compared to the second quarter and by 1.9 percent, compared to the third quarter of 2009. In the 27-member union, the third-quarter GDP rose a monthly 0.5 percent and 2.2 percent on an annual basis – reported Eurostat on Thursday.

In the second quarter, in the eurozone and in the EU-27, GDP both grew by 1.0 percent, compared to the first quarter, and by 2.0 percent compared to year earlier. In the third quarter, household consumption contributed to the euro area’s economic growth with 0.1 percentage points, while government expenditure and trade contributed with 0.1 – 0.1 percentage points – reports ProfitLine.hu.