Eurozone GDP grew more than expected in Q3, easing recession concerns

From Investing.com: 2024-10-30 06:58:00

Eurozone GDP growth accelerated in the third quarter from 0.2% to 0.4%, driven by one-offs. PMIs indicated economic doom, but the strong GDP data suggests worries about a recession are overdrawn. Ireland’s growth boosted the figure, and the Olympics played a role. Germany and Spain outperformed expectations, while Italy stagnated. The data provides a reality check for the ECB, possibly affecting future rate decisions. However, concerns remain about consumer spending and investment. The outlook for the eurozone remains sluggish. IMF discussions about rate cuts may be impacted by the GDP data.



Read more at Investing.com: Eurozone GDP Surprised to the Upside in the Third Quarter