Eurozone economy maintains growth pace

The European economy maintained its pulse in the third quarter above expectations. Despite worsening economic sentiment and the trade and geopolitical tensions, the eurozone GDP grew by 0.2%, in line with the previous quarter, according to the preliminary estimate released by Eurostat on Thursday.

The economy grew in the EU as a whole by 0.3%, slightly higher than the 0.2% registered in the previous quarter.

Compared with the same quarter of the previous year, GDP rose by 1.1% in the eurozone and by 1.4% in the EU28 in the third quarter of 2019, while in the previous quarter it was 1.2% in the euro area and 1.4% in the EU as a whole.

The economic expansion is losing steam, as global uncertainty is weighing on investors and consumers’ confidence. Still, the figures released on Thursday were above the 0.1% growth expected by analysts for the July-September period.

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