Eurozone GDP growth estimate remains unchanged

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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