Euro Zone Q3 Growth Slows to 0.4% as France Contracts 0.1%
Updated
Updated · CNBC · Oct 30
Euro Zone Q3 Growth Slows to 0.4% as France Contracts 0.1%
3 articles · Updated · CNBC · Oct 30
Summary
Eurostat put euro zone third-quarter growth at 0.4%, down from 0.6% in Q2 but above the 0.2% forecast in a Reuters poll.
France shrank 0.1% in July-September as higher borrowing costs and unrest over living costs weighed, while Germany grew 0.2% and Italy was flat.
Spain expanded 0.6%, outpacing the bloc on tourism, domestic demand and a stronger fiscal position; Ireland posted a volatile 5.5% gain.
The ECB held rates steady on Thursday and warned downside growth risks had increased, though analysts still see a possible December hike if energy prices stay high.