Euro zone Q3 GDP rises 2.2% q/q as expected

Euro zone gross domestic product (GDP) rose 2.2% quarter-on-quarter in the July-September period, the European Union’s statistics office Eurostat said on Tuesday, confirming its previous flash estimate from the end of October.

Eurostat said economic growth in the 19 countries sharing the euro was 3.7% higher than in the third quarter of 2020, also in line with the previous estimate, as the economy continued to recover strongly from the pandemic-induced recession in 2020.

Quarterly growth in July-September was highest in Austria at 3.3%, France at 3.0% and Portugal with a 2.9% expansion.