In numbers…the eurozone economy recorded growth during the third quarter

The eurozone economy grew according to preliminary estimates in the third quarter due to household and government spending.
According to the European Statistical Agency (Eurostat), GDP jumped by 0.4% in the third quarter, which is double the growth published in the second quarter.

Eurozone economy

The rates were in line with the initial estimate, and on an annual basis, the economic growth rate improved to 0.9%, in line with estimates, from 0.5% in the previous quarter.
The data also showed that household consumption spending advanced by 0.7%, while government spending jumped by 0.5%.
Gross fixed capital formation moved up by 2%, while net foreign trade contributed by negative 0.9 percentage points to growth.

European economy

Exports recorded a noticeable decline of 1.5%, while imports increased by 0.2%.
In the third quarter, the economy of the 27 European Union countries recorded a growth of 0.4%, while the gross domestic product advanced by 1% on an annual basis.
Among the member states, Ireland recorded the highest growth, followed by Denmark and Lithuania, while Hungary and Latvia recorded the largest decline.