Eurozone GDP beats expectations

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Seasonally adjusted GDP rose by 0.2% in the eurozone during the third quarter of 2014, compared with the previous quarter, according to flash estimates by Eurostat, the statistical office of the European Union.

In the second quarter of 2014, GDP grew by 0.1% in the eurozone.

Among the eurozone seven biggest economies, Poland outperformed the benchmark with 0.9% growth, followed by the UK (0.7%), Spain (0.5%) and, unexpectedly, France (0.3%). Germany just managed to stay out of recession, growing 0.1% in Q3, while Italy shrunk again by 0.1%.

Portugal disappointed economists expectations by growing only 0.2%, although twice the rate of Germany.

Overseas, GDP in the United States increased by 0.9% in Q3 compared with the previous quarter (after +1.1% in the second quarter of 2014). Compared with the same quarter of the previous year, GDP grew by 2.3% (after +2.6% in the previous quarter).



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