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Annual GDP contracts -4.3% in the third quarter compared to the -4.4% expected

  • GDP in the euro area grew apace in the third quarter.
  • The EUR / USD pair is moving modestly above 1.2100.

The gross domestic product Seasonally adjusted GDP expanded 12.5% ​​in the third quarter in the euro zone and 11.5% in the EU, as the data published by Eurostat showed this Tuesday.

On an annual basis, euro area GDP contracted by -4.3% in the third quarter and it was slightly better than market expectations of a -4.4% drop.

France (+ 18.7%), Spain (+ 16.7%) and Italy (+ 15.9%) recorded the largest increases in GDP compared to the previous quarter“Eurostat noted in its press release.” These countries were also among the largest declines in the second quarter. “

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