Eurozone GDP growth estimates for the third quarter remain unchanged, according to the European Union’s statistics office Eurostat, while estimates for the European Union as a whole have been revised upwards.
The latest estimates put GDP growth for the euro area at 0.2%, while estimates for the collective 27-member state (EU27) has been predicted at 0.3% – higher than the previous 0.2% estimate.
According to Eurostat, houshold consumption expenditure rose by 0.3% in the eurozone after contracting by 0.5% in the second quarter of the year. This trend was also repeated in the wider EU27 area, rising by 0.2% compared with a 0.4% contraction.
Exports also rose, increasing by 1.5% in the euro area building on 1.1% growth in the second quarter and doubling to 1.2% in the EU27, quarter-on-quarter.
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