EU, eurozone GDP growth confirmed at 0.6% in the third quarter

Source: ICIS News


LONDON (ICIS)--Third-quarter GDP rose in the EU and the eurozone by 0.6%, according to the European statistical agency Eurostat's latest estimate on Tuesday.

Compound annual GDP growth in both areas stood  at 2.5% during the July-September quarter, the best economic performance since the financial crisis in 2008.

The confirmation of growth in the third quarter at 0.6% followed a rise of 0.7% in the April-June quarter in both areas.

“Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.5% in both the eurozone and the EU28 in the third quarter of 2017, after +2.3% and +2.4% respectively in the previous quarter,” Eurostat said.

“During the third quarter of 2017, GDP in the US increased by 0.7% compared with the previous quarter (after +0.8% in the second quarter of 2017). Compared with the same quarter of the previous year, GDP grew by 2.3% (after +2.2% in the previous quarter),” it added.