Euro zone Q3 GDP growth weaker than
expected
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[October 31, 2023]
BRUSSELS (Reuters) - Euro zone economic growth was weaker than
expected in the third quarter, a flash estimate showed on Tuesday, with
gross domestic product contracting slightly quarter-on-quarter and the
year-on-year growth rate slowing sharply.
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![](../images/103123PIX/busine63.jpg)
Builders use a tape measure at the construction site for a shopping mall
in the North-Rhine Westphalian town of Monheim along the Rhine River,
Germany, September 28, 203. REUTERS/Wolfgang Rattay |
The
European Union's statistics office Eurostat said GDP in the 20
countries sharing the euro fell 0.1% quarter-on-quarter in the
July-September period for a 0.1% year-on-year rise.
Economists polled by Reuters had expected a 0.0% quarterly
growth and a 0.2% year-on-year gain.
Eurostat data showed 0.1% quarterly growth in France, 0.3% in
Spain and 0.5% in Belgium, but that failed to offset a 0.1%
quarterly slump in Germany, no growth in Italy, and contractions
in Austria, Portugal, Ireland, Estonia and Lithuania.
The euro zone economy is facing strong headwinds from high
inflation and record high interest rates and slowly tightening
fiscal policy.
(Reporting by Jan Strupczewski)
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