Eurozone economy grows 0.2% in 3rd quarter, beating expectations

ISTANBUL

The euro area economy grew 0.2% in the third quarter of this year, exceeding market expectations, according to preliminary data released Thursday by Eurostat.

The figure followed a 0.1% expansion in the previous quarter, which is what economists had forecast again for the July to September period.

Across the European Union, gross domestic product (GDP) rose 0.3% during the same period.

Among member states, Sweden posted the strongest quarterly growth, with GDP rising 1.1%, followed by Portugal at 0.8% and Czechia at 0.7%.

Lithuania saw the largest contraction, with output down 0.2%, while Ireland and Finland each recorded a 0.1% decline.

On an annual basis, the eurozone’s GDP expanded 1.3%, compared to 1.5% for the wider EU, Eurostat said.

The eurozone represents the 20 member states that use the euro as their official currency.