Euro area 2015 GDP likely to come in at 1.5%

Euro Area Q3 final estimate was unchanged from the flash reading at 0.3%qoq. The economic growth softened modestly from Q1 and Q2 2015. 

Expenditure breakdown was consistent with expectations indcating that final consumption expenditure was main growth contributor followed by changes in inventories, while net trade contribution came out negative again.

The latter was led by marked drop in exports growth due to emerging market slowdown, while imports growth stay unchanged at 0.9% qoq, consistent with strong domestic demand.

Private consumption kept positive momentum within domestic demand, hovering around 0.4% qoq for fourth consecutive quarter.

"Our 2015 and 2016 GDP forecasts are unchanged at 1.5% and 1.6%, respectively. We still project growth to average 1.8% in 2017", estimates Barclays.