Eurozone economy grows 2.2% quarter-on-quarter in Q3

According to flash estimate, euro area GDP jumped 3.7% year-on-year this July-September

The euro area’s gross domestic product (GDP) grew 2.2% in the third quarter compared to the previous quarter, according to a flash estimate by Eurostat on Tuesday.

The EU27 GDP also rose 2.1% quarter-on-quarter in July-September.

The third quarter figure was similar in the second quarter of this year, up by 2.1% in the euro area and by 2.0% in the EU.

The eurozone/euro area or EA19 represents the member states that use the single currency the euro while the EU27 defines all member countries of the bloc.

Austria posted the best performance among the countries for which data is available,with quarterly growth of 3.3% in July-September, while the lowest GDP rise was seen in Lithuania with 0%.

On an annual basis, GDP rose 3.7% in the eurozone and 3.9% in the EU,Eurostat data showed.


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