BERLIN (dpa) – The eurozone economy posted a meagre gain in growth during the third quarter after a jump in consumer spending helped to offset a slump in investment in the 18-member currency bloc, data released on Friday showed.
Household spending grew at 0.5 per cent quarter on quarter in the three months ended September to post its biggest rise since 2010, the European Union Eurostat said releasing its final estimate of the eurozone third-quarter gross domestic product.
Third-quarter investment spending however dropped 0.2 per cent from the three months to June. Exports rose by 0.8 per cent, while imports were up 1.2 per cent in the third quarter, Eurostat said.
Releasing the data, Eurostat confirmed its earlier estimate released last month of the eurozone reporting a 0.2-per-cent growth rate in the third quarter after expanding by just 0.1 per cent in the three months ended June.
The currency bloc grew by 0.8 per cent in the third quarter compared with the same last year.