Eurozone economy slows in third quarter

Eurozone economy slows in third quarter - ảnh 1
VOVworld)- Economic growth in the eurozone slowed to 0.3% in the third quarter of the year which shows that Europe's recovery remains fragile, according to flash estimates published Friday by Eurostat -- the statistical office of the European Union (EU). The rate was lower than expected, and compared with a pace of 0.4% recorded in the previous quarter. Germany's GDP grew by just 0.3 percent in the July-September quarter despite rising consumer and government spending, since its imports grew faster than exports, according to Germany's statistics office. The French GDP also saw a 0.3-percent growth, having escaped a long period of low growth. However, the Italian economy failed to hit the expected 0.3-percent growth, with only 0.2 percent in the third quarter. Meanwhile, the Greek GDP contracted by 0.5 percent, said the Eurostat. In the same quarter last year, the seasonally adjusted GDP rose by 1.6 percent in the Eurozone and by 1.9 percent in the EU.

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