The Eurozone economy grew faster than expected in the third quarter, driven by consumption, while Germany narrowly avoided a recession.
The eurozone grew twice as fast as economists expected in the third quarter, new figures show, as Germany managed to skirt a recession. New ‘flash’ figures released by Eurostat showed that the bloc grew 0.4 per cent between July and September, accelerating from 0.2 per cent in the second quarter. The figures showed that the French economy saw an Olympics boost in the period while Germany , the bloc’s largest economy, outperformed expectations with quarterly growth of 0.2 per cent.
What’s behind the eurozone’s growth Riccardo Marcelli Fabiani, senior economist at Oxford Economics, said the recovery across the eurozone was “driven by consumption” although investment remained subdued due to “tight monetary policy”. The European Central Bank ECB has flagged concern about the eurozone’s sluggish performance so this year.
GDP Economic Growth Germany Recession European Central Bank ECB Interest Rates Inflation Spain
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