Investing.com – The euro zone’s economy grew in line with expectations during the third quarter of 2010, unchanged from a preliminary estimate, official data showed on Thursday.
In a report, Eurostat, the statistical office of the European Union, said the euro zone’s gross domestic product increased by a seasonally adjusted rate of 0.4% during the third quarter, unchanged from a preliminary estimate of 0.4%.
Analysts had expected euro zone gross domestic product to rise by 0.4% in the third quarter.
The report said that year-on-year, GDP grew at an annualized rate of 1.9%, in line with expectations and unchanged from a preliminary estimate.
Following the release of that data, the euro was up against the U.S. dollar, with GBP/USD rising 0.35% to hit 1.3185.
Meanwhile, European stock markets were broadly higher: The EURO STOXX 50 rallied 1.25%, France’s CAC 40 surged 1.00%, Germany's DAX was up 0.40%, while the FTSE 100 jumped 0.93%.
In a report, Eurostat, the statistical office of the European Union, said the euro zone’s gross domestic product increased by a seasonally adjusted rate of 0.4% during the third quarter, unchanged from a preliminary estimate of 0.4%.
Analysts had expected euro zone gross domestic product to rise by 0.4% in the third quarter.
The report said that year-on-year, GDP grew at an annualized rate of 1.9%, in line with expectations and unchanged from a preliminary estimate.
Following the release of that data, the euro was up against the U.S. dollar, with GBP/USD rising 0.35% to hit 1.3185.
Meanwhile, European stock markets were broadly higher: The EURO STOXX 50 rallied 1.25%, France’s CAC 40 surged 1.00%, Germany's DAX was up 0.40%, while the FTSE 100 jumped 0.93%.