The economies of 19 euro-area countries increased by 0.2% in the third quarter compared to the previous quarter, the revised data on eurozone gdp growth q3 2022 from the European Union Statistical Office (Eurostat) shows. Thus, the GDP growth estimate has been confirmed. Experts interviewed by Trading Economics also did not expect the preliminary eurozone gdp growth forecast to change.

In annual terms, GDP in the euro area in July-September increased by 2.1%, which coincided both with preliminary data and with expectations of analysts.

In April-June the economy of the region increased by 0.8% against the previous quarter and by 4.3% in annual terms.

GDP of the European Union in the 3rd quarter increased by 0.2% on the previous three months and by 2.4% on a year-on-year basis.

Germany’s economy grew 0.3% in the past quarter in quarterly terms and 1.1% in annual terms. France’s GDP grew by 0.2% and 1% respectively; Italy’s by 0.5% and 2.6%, and Spain’s by 0.2% and 3.8%.

Employment in the euro area rose 0.2% in the third quarter from the previous quarter and 1.7% from July-September last year, Eurostat data showed.

The Eurozone’s Q3 GDP report, published Tuesday, is the second of three estimates. The final data will be released on December 7.

Earlier we reported that the European Commission is sticking to a proposal to set a ceiling on oil prices.