The Eurozone economy in the third quarter increased by 0.3%


Moscow. December 8. The economy of the 19 countries of the Eurozone in the third quarter of 2015 increased by 0.3% compared with the previous three months, according to revised data of the Statistical office of the European Union.

GDP growth compared to July-September last year amounted to 1.6%.

The dynamics of both indicators coincided with the preliminary data, and with the average forecasts of experts surveyed by Bloomberg.

The dynamics of both indicators coincided with the preliminary data, and with the average forecasts of experts surveyed by Bloomberg.

In the second quarter of this year the Eurozone economy grew 0.4% compared with the previous quarter and by 1.5% per year.

Support the region’s economy in the last quarter had growth of private consumption and government spending, offsetting the weak growth of export.

“The growth of the economy on the road to 2016 is still largely driven by the rise in the consumer sector, and external factors should change from a neutral to slightly positive next year, says chief economist at Berenberg Bank in London Holger Smiling. – Limiting factor is emerging markets, but the associated risk has weakened in the last two months”.

The rate of growth of public expenditure in the third quarter rose to 0.6% from 0.3% in the previous quarter, private consumption – to 0.4% from 0.3%.

Exports from the Eurozone in the last quarter grew by 0.2%, imports – by 0.9%.

According to the November projections by the European Commission, Eurozone GDP in 2015 will rise by 1.6% in 2016 growth will increase to 1.8% in 2017 to 1.9%.