Economic Buzz: Euro area economy expands 1.2% on year in September quarter

The euro area economy rose at a faster pace in the third quarter of this year, preliminary flash estimate from Eurostat showed on Thursday. Gross domestic product edged up 0.2 percent quarter-on-quarter, after rising 0.1 percent in the second quarter. On a yearly basis, GDP growth eased to 1.3 percent from 1.5 percent in the prior quarter. The EU27 also grew at a faster pace in the third quarter, up 0.3 percent sequentially, following a 0.2 percent rise a quarter ago. The annual growth in GDP was 1.5 percent compared to 1.6 percent in the second quarter.

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