Economy, Employment in Eurozone and EU Up for Second Straight Quarter

Source: Eurostat

Economic and employment in both the Eurozone and the European Union climbed for the second straight quarter in the July to September period. EZU is up 1.31%, while VGK is up 3.20% premarket.

• The Eurozone economy expanded by 2.2% in the third quarter compared with the previous quarter, unchanged from the three months earlier.
• The latest figure marks the second straight quarter of economic expansion after falling to negative territory in the first three months of the year.
• The EU economic expansion was similarly unchanged at 2.1% in the third quarter, following the 0.0% recorded in the first quarter of 2021.
• Compared with the previous year, the Eurozone economy grew by 3.9% and by 4.1% in the EU.
• Household spending jumped by 4.1% in the Eurozone and 4.0% in the EU, while government spending increased by 0.3% in both zones.
• Employment growth in the Eurozone increased by 0.9%, higher than 0.8% in the second quarter. Annual growth was recorded at 2.1%, up from 2.0%.
• Job growth in the EU stood at 0.9% versus the previous quarter, and annual growth was 2.1%.