Investing.com – The euro zone’s economy grew less than initially expected in third quarter of 2011, underscoring fears over the region’s economic outlook, official data showed on Wednesday.
In a report, Eurostat said the euro zone’s gross domestic product rose by a seasonally adjusted 0.1% in the third quarter, down from a preliminary estimate of 0.2% and slowing from growth of 0.8% in the preceding quarter.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.56% to trade at 1.2706.
Meanwhile, European stock markets held on to losses. The EURO STOXX 50 dropped 0.65%, France’s CAC 40 dipped 0.45%, the FTSE 100 fell 0.65%, while Germany's DAX slumped 0.7%.
In a report, Eurostat said the euro zone’s gross domestic product rose by a seasonally adjusted 0.1% in the third quarter, down from a preliminary estimate of 0.2% and slowing from growth of 0.8% in the preceding quarter.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.56% to trade at 1.2706.
Meanwhile, European stock markets held on to losses. The EURO STOXX 50 dropped 0.65%, France’s CAC 40 dipped 0.45%, the FTSE 100 fell 0.65%, while Germany's DAX slumped 0.7%.