Euro Area GDP Growth Steady at 0.3% in Q3

The Eurozone economy expanded 0.3 percent on quarter in the three months to September of 2016, the same as in the previous period and in line with market expectations, preliminary estimates showed. GDP growth picked up in France and Austria but slowed in Spain, Belgium and Lithuania.

Among countries for which data is already available, the French economy advanced 0.2 percent, recovering from a 0.1 percent contraction in the previous period and Austria expanded at a faster 0.4 percent (0.3 percent in Q2) while GDP growth slowed in Spain (0.7 percent compared to 0.8 percent in Q2); Belgium (0.2 percent compared to 0.4 percent); Latvia (0.5 percent compared to 0.6 percent in Q2); and Lithuania (0.1 percent compared to 0.4 percent in Q2). Germany, the biggest economy, is expected to release preliminary GDP estimates in two weeks.

Year-on-year, the Euro Area economy expanded 1.6 percent, the same as in the previous period and also in line with forecasts.

Considering the European Union, the GDP growth was steady at 0.4 percent quarter-on-quarter and at 1.8 percent year-on-year. 

Eurostat | Joana Taborda |
10/31/2016 11:31:53 AM