Eurozone development up simply by 0.2 % in Q3


BRUSSELS, Oct. 30 (Xinhua) — The eurozone economic growth rose by just 0.2 percent during the third quarter of this year compared with the second quarter, the weakest reading since the second quarter of 2014, according to a preliminary flash estimate on Tuesday by Eurostat, the statistical office of the European Union (EU).

The 0.2 percent quarterly growth rate was weaker than the 0.4 percent growth recorded in both the first and second quarters and the consensus forecast for the third quarter of 0.4 percent.

“Q3’s 0.2 percent expansion in the eurozone economy was disappointing but as it probably partly reflects temporary factors, we expect some recovery in the coming quarters,” said Jessica Hinds, European economist with Capital Economics.

The slowdown is partly due to the stagnation in Italy, which was the first time in four years that the economy did not post growth over a quarter.

Growth in the wider EU in the third quarter also slowed down from 0.5 percent to 0.3 percent.


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