Frankfurt, Germany/Paris, France — The eurozone escaped recession in the third quarter, with Germany’s recovery gaining strength, but the rebound was less dramatic than expected and less strong than in the US.
Eurozone gross domestic product rose by 0.4 per cent compared with the previous three months, according to Eurostat, the European Union’s statistical office. The US economy expanded by 0.9 per cent in the same period but the UK remained in recession.
The latest data followed five consecutive quarters of falling eurozone GDP. Powering the rebound was a 0.7 per cent expansion in Germany’s economy, the 16-country region’s largest. Italy also performed well, expanding by 0.6 per cent, ending its recession. But the 0.3 per cent pick-up in France — the same as in the previous quarter — fell short of expectations. Read More