The euro area economy expanded as initially estimated in the third quarter largely driven by household spending, estimates released by Eurostat showed on Tuesday. Gross domestic product grew at a steady pace of 2.2 percent in the third quarter. The estimate for the second quarter was revised up from 2.1 percent and the third quarter rate was confirmed by Eurostat.
On a yearly basis, GDP advanced 3.9 percent instead of 3.7 percent expansion estimated previously. However, this was slower than the second quarter's 14.4 percent increase.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.