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Eurozone: Final GDP of the third quarter revised downwards to 0% quarter-on-quarter compared to the preliminary 0.1%

  • The Eurozone economy stagnated in the third quarter.
  • EUR/USD remains capped below 1.0800 following disappointing Eurozone GDP data.

The Eurozone economy unexpectedly stagnated in the third quarter, the final estimate published by Eurostat showed on Thursday.

In quarterly terms, the Gross Domestic Product (GDP) of the old continent stood at 0% in the three months until September of this year. The preliminary figure showed a growth of 0.1% during the reporting period. The market expected a figure of 0.1%.

In year-on-year terms, the bloc’s GDP contracted 0.1%, at the same pace as the preliminary reading and in line with market forecasts.

The final variation in employment in the euro zone stood at 0.2% quarterly and 1.3% year-on-year respectively.

Source: Fx Street

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