Eurozone economic growth remains unchanged in Q3, in line with expectations

Economic growth in the eurozone remained unchanged during the third quarter of this year, matching analysts’ expectations. Although a modest growth erased concerns over the currency bloc’s surprise decision to quit the European Union, it raised tension about its future ability to deliver prosperity.

Eurozone’s gross domestic product in the 19 countries sharing the euro rose 0.3 percent quarter-on-quarter in the July-September period, the same as in the second quarter, data released by the statistics agency Eurostat showed Monday.

Further, in year-on-year terms, the euro zone economy expanded 1.6 percent, also the same as in the second quarter and in line with expectations of economists polled by Reuters. At 1.4 percent, the annualized growth rate was well below the 2.9 percent recorded by the U.S. and the 2.0 percent recorded by the U.K. during the same period.

Meanwhile, the GDP growth in the EU28 held steady at 0.4 percent on quarter and the annual growth at 1.8 percent in the third quarter.