GDP in the Eurozone Expanded On investments, exports
The Euro area economy expanded as initially estimated in the third quarter, largely on the investments and exports, Eurostat reported on Thursday.
Gross domestic product grew by 0.6 percent compared to the previous quarter, slightly slower than the 0.7 percent expansion in the second quarter. The rate came in under the estimate released on 14.
On an annual basis, GDP is 2.6 percent, which was revised, extended, up from the flash estimate of 2.5 percent.
The expenditure-side breakdown of GDP showed that household spending climbed by 0.3 percent compared to the previous quarter, slower than the 0.5 percent growth registered in the second quarter.
Similarly, the government expenditure growth slowed to 0.2 percent from 0.3 percent. Gross fixed investment rose 1.1 per cent, weaker than the 2.2 percent increase seen a quarter before.
Exports rose at a faster pace of 1.2 percent after the second quarter, a 1 percent increase. Meanwhile, quarterly growth of imports slowed to 1.1% from 1.7%.
The EU28 registered a sequential GDP growth of 0.6 percent and an annual expansion of 2.6 percent in the third quarter.