Euro area economy expanded at a slower pace in the third quarter and employment growth slowed as runaway inflation and rising interest rates damp economic activity in the single currency bloc, latest figures from Eurostat showed Tuesday. Gross domestic product grew a seasonally adjusted 0.2 percent from the second quarter, when the Eurozone economy expanded 0.8 percent.
The EU GDP also rose 0.2 percent sequentially in the September quarter after a 0.7 percent growth in the previous three months. Compared to the same quarter last year, Eurozone GDP grew 2.1 percent in the third quarter following a 4.3 percent expansion in the previous three months.Annual growth in the EU slowed to 2.4 percent from 4.3 percent. All figures were in line with the flash estimate released on October 31. Based on the available data, Cyprus and Romania logged the strongest quarterly GDP growth rate, 1.3 percent, among EU member states.
For comments and feedback contact: editorial@rttnews.com
Business News
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.