Investing.com – The euro zone’s economy expanded broadly in line with market expectations in the third quarter, official preliminary data showed on Tuesday.
In a report, Eurostat said that the euro zone’s gross domestic product grew by a seasonally adjusted 0.2% during the third quarter, in line with expectations, following growth of 0.2% in the preceding quarter.
Year-on-year euro zone GDP grew at an annualized rate of 1.4%, in line with forecasts, after expanding at a rate of 1.6% in the previous quarter.
A separate report earlier showed that German GDP rose in line with expectations in the third quarter, expanding 0.5%, from an upwardly revised 0.3% in the preceding quarter.
Meanwhile, France’s GDP expanded by 0.4% on the quarter, having contracted by 0.1% in the previous three months.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD falling 0.63% to hit 1.3549.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 dropped 1.65%, France’s CAC 40 tumbled 1.6%, Germany's DAX sank 1.55%, while the FTSE 100 declined 0.7%.
In a report, Eurostat said that the euro zone’s gross domestic product grew by a seasonally adjusted 0.2% during the third quarter, in line with expectations, following growth of 0.2% in the preceding quarter.
Year-on-year euro zone GDP grew at an annualized rate of 1.4%, in line with forecasts, after expanding at a rate of 1.6% in the previous quarter.
A separate report earlier showed that German GDP rose in line with expectations in the third quarter, expanding 0.5%, from an upwardly revised 0.3% in the preceding quarter.
Meanwhile, France’s GDP expanded by 0.4% on the quarter, having contracted by 0.1% in the previous three months.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD falling 0.63% to hit 1.3549.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 dropped 1.65%, France’s CAC 40 tumbled 1.6%, Germany's DAX sank 1.55%, while the FTSE 100 declined 0.7%.