💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Euro zone Q3 GDP rises 0.3%, in line with forecasts

Published 10/31/2016, 06:01 AM
© Reuters.  Euro area growth remains at 0.3% in the third quarter
EUR/USD
-
EUR/GBP
-
UK100
-
FCHI
-
DE40
-
STOXX50
-

Investing.com – Gross domestic product (GDP) in the euro zone rose as expected in the third quarter, according to preliminary official data released on Monday.

In a report, Eurostat said that GDP rose a seasonally adjusted 0.3%, compared to growth of the same amount in the preceding quarter and bang in line with consensus forecasts.

Year-on-year, GDP in the single currency bloc rose 1.6% in the third quarter, matching both the expansion in the April to June period and the forecast.

The euro zone data was released after Germany, the engine of its economy, surprised earlier on Monday with retail sales falling at their fastest pace in two years.

Specifically, they slid 1.4% in September, missing expectations for a 0.2% increase.

Immediately after the release of the GDP data, that was accompanied by inflation figures for the region, EUR/USD was unchanged at 1.0953, while EUR/GBP was at 0.8997 from 0.9002 ahead of the report.

Meanwhile, European stock markets were trading lower. The Euro Stoxx 50 dropped 0.43%, Germany's DAX fell 0.25%, France’s CAC 40 lost 0.63%, while London’s FTSE 100 traded down 0.30%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.