Eurozone, EU Economic Growth Slow Down in Q3

Source: Eurostat

Annual economic growth in both the Euro area and the European Union slowed in the third quarter of the year, according to preliminary flash estimates. IEV is down 0.53%.

• Seasonally annual adjusted GDP increased by 3.7% in the Euro area from 14.2% the previous quarter, and to 3.9% in the EU from 13.7%.
• Monthly economic growth increased by 2.1% in the EU, up from the 2.0% the previous quarter and to 2.2% in the Euro area from 2.1%.
• The highest increases compared to the previous quarter were recorded in Austria, France, and Portugal.
• The lowest growth was recorded in Latvia, and stable in Lithuania.
• Annual economic growth rates were positive for all countries, led by Lithuania, Austria, and Belgium.