Eurozone economic growth slowed sharply in the third quarter, as expected, preliminary data showed on Monday, highlighting expectations that the currency bloc will slide into recession in the coming quarters.
The European Union’s statistics agency Eurostat estimated that gross domestic product in the 19 countries that share the euro rose by 0.2% from the second quarter and 2.1% from the same period a year earlier, as expected. by economists polled by Reuters.
This compares with quarterly growth of 0.8% and annual growth of 4.3% in the period from April to June, as the eurozone economy begins to feel the impact of rising inflation, especially energy prices, after Russia’s invasion of Ukraine, and the resulting jump in interest rates.
Germany, Europe’s largest economy, bucked the trend and reported a slight acceleration of growth in the third quarter to 0.3% from 0.1% in the second quarter, although its economy still slowed year-on-year.
Belgium, Latvia and Austria have already recorded a quarterly decline in GDP from July to September.
Source: CNN Brasil
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