Investing.com - The euro zone’s economy grew less-than-expected in the third quarter, underlining concerns over the region’s economic outlook, official preliminary data showed on Thursday.
In a report, Eurostat said that the euro zone’s gross domestic product grew by a seasonally adjusted 0.1% in the third quarter, below expectations for growth of 0.2% and slowing from 0.3% expansion in the preceding quarter.
Year-on-year, euro zone GDP fell 0.4% compared to a year earlier, worse than expectations for a 0.3% contraction, after shrinking at a rate of 0.6% in the previous quarter.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.3445.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 advanced 0.9%, France's CAC 40 rose 0.9%, Germany's DAX jumped 0.9%, while the FTSE 100 added 0.8%.
In a report, Eurostat said that the euro zone’s gross domestic product grew by a seasonally adjusted 0.1% in the third quarter, below expectations for growth of 0.2% and slowing from 0.3% expansion in the preceding quarter.
Year-on-year, euro zone GDP fell 0.4% compared to a year earlier, worse than expectations for a 0.3% contraction, after shrinking at a rate of 0.6% in the previous quarter.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.3445.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 advanced 0.9%, France's CAC 40 rose 0.9%, Germany's DAX jumped 0.9%, while the FTSE 100 added 0.8%.