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Eurozone economy grows 0.3% on household spending in Q3

by ChemOrbis Editorial Team -
  • 08/12/2015 (16:23)
According to recent data from the statistical office of the European Union (Eurostat), eurozone economic growth in the third quarter was confirmed at 0.3%, matching initial estimates, on a quarterly basis and at 1.6% year over year.

The expansion in the eurozone economy was driven by rising household and government spending as well as stock buildups, while higher imports capped the growth rate. Economic growth slowed for the second consecutive quarter in the July-September period, though recent business surveys and confidence measures signal acceleration for the final quarter of 2015.

Last week, ECB president Mario Draghi stated that the ECB would extend their €60 billion ($64.8 billion) per month bond-buying program to at least March 2017.
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