The gross domestic product of the euro area He accelerated his pace by a tenth of a second. and advanced 0,2% in the third quarter, according to data confirmed by Eurostat. The improvement comes after a more lukewarm previous quarter, although it still below the records from the beginning of the year.
Across the EU, the economy It grew by 0,3% quarterlyThis represents a slightly stronger performance than in the previous quarter. Compared to the same period last year, activity rebounded by 1,4% in the eurozone or with a 1,6% in the Twenty-Seven.
General reading of the data
The 0,2% increase in the eurozone represents a continuation of the recovery after the recent setback, although stays away of 0,6% observed in the first quarter. In the EU-27, the 0,3% increase also improves on the previous quarter (0,2%) and remains below the 0,5% that was recorded at the beginning of the year.
In year-on-year terms, the The photography is somewhat more solid.1,4% in the eurozone and 1,6% in the EU, indicating that The economy has strengthened compared to the same period of the previous year, following the stagnation of the final stretch of the previous year.
Breakdown by country
Among the bloc's main economies, Spain It slowed its pace to 0,6%. (up from 0,8% in the previous quarter). Germany was no quarterly growth following the previous contraction of 0,2%; France accelerated to the 0,5% (from 0,3%) and Italy remained in zero growth after the 0,1% drop in the previous quarter.
Among the countries with available data, Sweden led with +1,1%Cyprus followed (+0,8%), followed by Portugal, Slovenia, and Poland (all with +0,8%). On the downside, declines were recorded in Lithuania and Romania (-0,2%)while Ireland and Finland conceded a 0,1%.
The ECB's view
The European Central Bank conveyed a message of caution with a somewhat constructive tone. Its president, Christine Lagarde, noted that with growth of 0,2% quarterly It's not advisable to dramatize, although he acknowledged that there is room for improvement and that The advance could gain traction if the conditions are right.
Similarly, Vice President Luis de Guindos pointed out that the ECB is slightly more optimistic Regarding the activity. In his opinion, that 0,2% is not impressive, but Nor does it describe a recessionary scenario and keeps alive the expectation that GDP for the year will close slightly above 1% in the eurozone.
Keys for Spain and Europe
For Spain, the growth of 0,6% quarterly This confirms above-average performance for the euro, although with some slowdown compared to the previous quarter. In the rest of the bloc, the divergence between more dynamic countries (such as Sweden or Cyprus) and those still adjusting (such as Lithuania or Romania) is evident. It highlights a recovery at different speeds..
Looking ahead to the next few quarters, the behavior of consumption, investment and the external sector will be crucial to sustaining the pace of activity. A stable monetary environment y less strained financial conditions could support more homogeneous growth in the region.
The third quarter leaves a picture of gradual improvement in the eurozonewith the EU keeping pace slightly ahead. Spain maintains a remarkable pace within the bloc, Germany continues its transition, France is accelerating, and Italy remains stable, while the ECB, attentive to the data, He is confident that the annual growth will slightly exceed 1%. if current trends consolidate.
