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Euro zone third quarter growth revised up to 0.3%

The EU has revised up euro zone third quarter economic growth to 0.3%
The EU has revised up euro zone third quarter economic growth to 0.3%

The EU has today revised up euro zone third quarter economic growth slightly to 0.3%, as the performance of the 20-country single currency area further outstripped predictions.

The new data from the bloc's statistics agency was up from 0.2% in the initial estimate for the July-September period released at the end of October.

The positive news came as the estimate for better-than-anticipated growth in France was maintained despite political turmoil in Europe's second-biggest economy.

Growth in Germany, the euro zone's biggest economy, remained stagnant, however.

The fastest riser in the bloc was Denmark that saw heady 2.3% growth, Eurostat said.

The fresh figure came after the EU last month cut its euro zone growth forecast for 2026 as risks from international trade and geopolitical tensions weigh on Europe's economy.

The European Commission said it expects the 20-country single currency area to grow by 1.2% in 2026, down from a previous forecast of 1.4%.

Meanwhile, euro zone employment rose by 0.2% quarter-on-quarter and rose by 0.6% year-on-year in the third quarter, the European Union statistics office said today, revising its earlier estimate for both the quarterly and annual figures.

According to a Reuters poll, employment had been expected to rise 0.1% quarter-on-quarter and rise 0.5% year-on-year.