In preliminary statistics, the European Union statistics office “Eurostat” estimated on Monday that gross domestic product in the 19 countries rose by 0.2 percent on a quarterly basis, and by 2.1 percent on an annual basis, in line with the expectations of economists polled by Reuters.
These results compare with growth of 0.8 percent on a quarterly basis and 4.3 percent on a yearly basis in the April-June period, the period when the eurozone economy began to feel the impact of high inflation, especially with regard to energy prices after the Russian invasion of Ukraine, and what It was followed by a jump in interest rates, and continued supply chain problems.
Germany, Europe’s largest economy, bucked the trend, posting a slight rise in quarterly growth in the third quarter to 0.3 percent from 0.1 percent in the second quarter, although its economy is still slowing on an annual basis.
Belgium, Latvia and Austria already recorded quarterly declines in GDP in the July-September period.
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