Eurozone: Eurozone GDP inches up in Q3
November 14, 2014
In Q3 2014, Eurozone’s GDP increased a seasonally-adjusted 0.2% over the previous period, according to the flash estimate released by the statistical office (Eurostat) on 14 November. The Q3 reading was up from the revised 0.1% expansion recorded in the previous quarter (previously reported: 0.0% quarter-on-quarter). The reading—which came above market expectations of a 0.1% increase—points to a continuation of the weak Eurozone economic recovery. On an annual basis, the economy expanded 0.8%, which was unchanged from the revised 0.8% recorded in Q2 (previously reported: +0.7% year-on-year).
Looking at the four major countries in the region, Spain recorded the strongest expansion (Q3: +0.5% quarter-on-quarter; Q2: +0.6% qoq), followed by France (Q3: +0.3% qoq; Q2: -0.1% qoq) and Germany (Q3: +0.1% qoq; Q2: -0.1% qoq). Meanwhile, GDP contracted in Italy (Q3: -0.1%; Q2: -0.2%).
Author: Armando Ciccarelli, Head of Data Solutions