✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Household, government spending keep euro zone economy growing in third quarter

Published 05/12/2014, 10:14
© Reuters. A picture illustration taken with the multiple exposure function of the camera shows a one Euro coin and a map of Europe

BRUSSELS (Reuters) - Rising household demand and steady government spending kept the euro zone economy growing in the third quarter despite a further fall in investment and a negative contribution from trade, data from the European Union's statistics office showed on Friday.

Eurostat confirmed its earlier estimate that the economy of the 18 countries sharing the euro expanded 0.2 percent quarter-on-quarter for a 0.8 percent year-on-year rise after a 0.1 percent quarterly growth in the second quarter and 0.3 percent in the first.

Eurostat said that household demand added 0.3 percentage points to the overall quarterly outcome and government spending added another 0.1 point. Contribution from inventories was zero.

Falling investment took away 0.1 point from the final result and the rest came off due to the negative contribution from net trade when compared to the second quarter.

The euro zone's biggest economy Germany grew 0.1 percent quarter-on-quarter and second biggest France accelerated to 0.3 percent growth from a 0.1 percent contraction in the previous three months.

© Reuters. A picture illustration taken with the multiple exposure function of the camera shows a one Euro coin and a map of Europe

Third biggest Italy slipped into technical recession, recording the second consecutive quarter of falling output with a 0.1 percent contraction in the July-Sept period.

(Reporting By Jan Strupczewski; editing by Philip Blenkinsop)

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.