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Eurozone Growth Halves In Q3 As Estimated

Eurozone's economic growth rate halved in the third quarter as estimated initially, latest figures from the Eurostat showed on Friday.

Gross domestic product grew 0.2 percent from the second quarter, when it increased 0.4 percent.

The year-on-year growth rate was revised down to 1.6 percent from 1.7 percent. In the second quarter, growth was 2.2 percent.

Employment grew 0.2 percent sequentially in the third quarter after a 0.4 percent increase in the previous three months. Thus, the preliminary estimate was confirmed.

Compared to a year ago, employment grew 1.3 percent in the third quarter after a 1.5 percent increase in the previous three months.

Private consumption growth eased to 0.1 percent from 0.2 percent. Government spending growth halved to 0.2 percent from 0.4 percent. The increase in gross fixed capital formation shrunk to 0.2 percent from 1.5 percent.

Exports decreased 0.1 percent after a 1 percent growth in the second quarter, while imports grew 0.5 percent following a 1.1 percent increase.

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