Liberty Times and the Central News Agency reported on October 30 that Eurostat put euro area third-quarter growth at 0.4% quarter on quarter, above the 0.2% expected in a Bloomberg survey of economists.
The Central News Agency (CNA) reported on October 30 that Eurostat said euro area gross domestic product rose 0.4% in the third quarter from the previous quarter. Economists surveyed by Bloomberg had forecast 0.2%, so the actual figure came in above expectations. This is a first, preliminary estimate and may be revised later.
광고 문의 · 300×250CNA said second-quarter growth was 0.6%, implying a slight slowdown in the third quarter. Outlets differ on the second-quarter figure, however: FXStreet put it at 0.8%, so this article does not state the exact size of the change from the previous quarter.
Annual growth and jobs
According to FXStreet, third-quarter GDP rose 1.3% from a year earlier, above market expectations, as forecasts had called for a slowdown from 1.2% to 1.1%. The same source said the euro area unemployment rate for September was 6.5%, unchanged from the prior month but above the 6.4% expected, with August revised up to 6.4%.
The market reaction was limited. FXStreet said the euro firmed slightly after the release, with EUR/USD up 0.23% near 1.1202. Markets in the US and Asia were unsettled by a tech selloff the same day, but the full effect of this data on European asset prices could not be confirmed for this report.
One caveat concerns the breakdown by member state. The reports cited did not give growth rates for individual countries such as Germany, France, Italy or Spain, so it could not be confirmed which economies drove the expansion. Final figures and component detail are expected from Eurostat in later releases.