Euro area economy contracts 0.1% in 3rd quarter, meeting estimates

Euro area GDP rises 0.1% year-on-year in July-September, slowing from previous 3-month period

By Tuba Ongun

ANKARA (AA) – The gross domestic product in eurozone shrank 0.1% in the third quarter of this year compared to the previous three-month period, according to the second reading released on Tuesday.

The July-September figure came in line with the initial estimate and marked the first contraction since 2020, Eurostat data showed.

This followed a 0.2% quarter-on-quarter growth in the second quarter of this year.

The GDP in the EU, on the other hand, remained stable compared to the previous period.

Among the largest economies in the bloc, the GDP in Germany fell 0.1% in the third quarter, it increased 0.1% in France and was flat in Italy compared to the second quarter.

On an annual basis, the economy of the single currency area grew 0.1% in the July-September, slowing from a 0.5% growth in April-June.

Kaynak: