Eurostatistics: Euro Zone Economy Grew By 0.4% In The Third Quarter Of This Year.

2010/11/13 11:13:00 61

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Statistics Bureau of the European Union

Preliminary data released on the 12 day showed that the euro area economy grew by 0.4% in the third quarter of this year, and the pace of recovery slowed down significantly compared with the previous quarter.

In the second quarter of this year,

Euro zone economy

The growth rate was 1%, the recovery was quite strong, and the third quarter slowed down mainly because of the sharp decline in German economic growth.

As the largest economy in the euro area, the German economy grew by 0.7% in the third quarter, up 2.3% from the previous quarter.

stay

Economic recovery

As the pace slows down, there is a big difference between the eurozone members.

Finland has taken the lead. The economy has increased by 1.3%. The main economies such as Germany and France have been slowing down but still growing. Greece, which is deeply in debt, is still in a serious recession. The economy is shrinking by 1.1%.

This result is roughly the same as that of economists.

Analysts believe that the second quarter of the euro zone economic growth is mainly driven by export growth, while the second half of this year, Global trade growth slowed down, the pace of economic recovery in the euro area will be affected.

Ireland's financial and financial situation has deteriorated dramatically over the past few years.

There is concern that Ireland may be forced to ask for help from the European Union after Greece, which will further cast a shadow over the euro area's economic growth prospects.

According to the European Union's Statistics Bureau, the EU's 27 economies increased by 0.4% in the third quarter of this year, down from 1% in the previous quarter.

Over the same period, the US economy grew by 0.5%.

Compared with the same period last year, the euro area and the EU's economic growth in the third quarter of this year increased by 1.9% and 2.1% respectively, while the previous quarter increased by 1.9% and 2% respectively.