Euro area GDP rises 0.2% in 3rd quarter

ANKARA

Gross domestic product (GDP) in both the euro area and the EU rose 0.2% quarter-on-quarter this July-September, according to preliminary estimates released on Monday.

In the second quarter of 2022, GDP grew 0.8% in the euro area (countries that use the euro currency) and 0.7% in the EU27.

On a yearly basis, GDP climbed 2.1% in the euro area and 2.4% in the EU in the three months to September. The figure slowed down from 4.3% annual growth in both zones in the previous quarter.

Among the member states for which data are available for the third quarter, Sweden saw the largest growth rate in the third quarter of 2022, followed by Italy (up 0.5%) and then Portugal and Lithuania (both up 0.4%).

On the other hand, the Latvian economy contracted by 1.7% on a quarterly basis, so did in Austria and Belgium (both down 0.1%).