Euro zone gross domestic product (GDP) rose 2.2% on a quarterly basis in the three months from July to September, the European Union's statistics office Eurostat said today.

This confirmed 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 the third quarter was highest in Austria at 3.3%, France at 3%, while Portugal saw a 2.9% expansion.

Meanwhile, euro zone employment rose by 0.9% quarter-on-quarter and by 2% year-on-year in the third quarter, according to a flash estimate from Eurostat today.

According to a Reuters poll, the employment had been expected to rise 0.8% quarter-on-quarter and 1.6% year-on-year.