Eurozone economy grows 2.3% in 3rd quarter

ISTANBUL

The euro area’s gross domestic product expanded 2.3% in the third quarter of this year on a yearly basis, official figures revealed on Wednesday.

The EU's economy also grew 2.5% over the same period, according to Eurostat, the EU's statistical body.

In the previous quarter, GDP growth rates were 4.2% for eurozone and 4.3% for the EU.

On a quarterly basis, the euro area and the EU economies expanded 0.3% and 0.4%, respectively.

Among member states, Ireland posted the largest GDP growth rate with 10.6%, followed by Croatia with 5.5%, while Estonia and Latvia saw negative growth rates with minus 2.3% and minus 0.4%, respectively.