Euro Area GDP Growth Below Expectations
The Eurozone economy advanced 0.3 percent on quarter in the three months to September, slowing from a 0.4 percent rise in the previous period and below market forecasts. It is the weakest expansion in a year as GDP growth slowed in most countries including Germany and Italy while France expanded at a faster pace.
11/13/2015 10:42:03 AM
The German economy grew 0.3 percent, slowing from a 0.4 percent gain in the second quarter while Italy expanded 0.2 percent, the slowest pace in a year. Belgium, Spain, Latvia and Austria (0.2 percent, 0.8 percent, 0.4 percent, and 0.1 percent respectively) advanced at a slower pace while Portugal showed no growth at all. Estonia and Greece shrank 0.5 percent each while Finland contracted 0.6 percent. In contrast, France expanded at a faster 0.3 percent and Lithuania advanced 0.5 percent while GDP growth in Cyprus, the Netherlands and Slovakia was unchanged at 0.5 percent, 0.1 percent and 0.9 percent respectively. Figures for Ireland, Malta, Luxembourg and Slovenia have not been released yet.
Considering the 28 countries, the European Union expanded 0.4 percent, the same as in the previous quarter.
Year-on-year, the Euro Area advanced 1.6 percent, slightly higher than 1.5 percent in the second quarter while GDP growth in the European Union was unchanged at 1.9 percent.