Eurozone GDP Growth Rises As Estimated

(RTTNews) - The euro area economy grew at a faster pace in the third quarter, as initially estimated, official data revealed on Friday.

Gross domestic product logged 0.2 percent expansion, faster than the 0.1 percent growth seen in the second quarter. The rate matched the preliminary flash estimate published on October 30.

On a yearly basis, economic growth eased to 1.4 percent from 1.5 percent in the preceding quarter. The 1.4 percent was revised up from the earlier estimate of 1.3 percent.

At the same time, the sequential GDP growth for the EU27 was left unrevised at 0.3 percent in the third quarter. Meanwhile, annual growth was revised to 1.6 percent from 1.5 percent.

Data showed that euro area employment logged a steady growth of 0.1 percent sequentially in the third quarter. Year-on-year, growth in employment slowed to 0.5 percent from 0.6 percent.