Eurozone GDP growth hits 2-year high, accelerates to 0.4% in Q3

ANKARA

The eurozone economy gained momentum in the third quarter, with GDP rising by 0.4% compared to the previous quarter, in line with earlier estimates, according to Eurostat’s latest data released Friday.

This marks a notable acceleration from the 0.2% growth recorded in the second quarter and represents the fastest pace of expansion in two years.

The European Union (EU) as a whole mirrored the eurozone’s growth rate of 0.4% quarter-on-quarter.

Among member states, Ireland emerged as the standout performer with an impressive 3.5% GDP growth over the previous quarter.

Denmark and Lithuania followed with 1.2% growth each in the three months to September.

In contrast, GDP contracted in Hungary (-0.7%) and Latvia (-0.2%) in the three months to September.

On a year-on-year basis, GDP growth was confirmed at 0.9% in the euro area and 1% in the EU in July-September, following 0.5% and 0.8%, respectively, in the previous quarter.

The eurozone/euro area or EA19 represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.

• European Union (EU)
• eurozone economy
• GDP growth