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Eurostat confirms euro zone GDP, employment growth slows in third quarter

Reuters  |  BRUSSELS 

(Reuters) - The euro zone economy grew at its slowest pace in four years in the third quarter of 2018, while employment growth also eased during the period, data released by the statistics agency Friday showed, confirming earlier estimates.

Euro zone (GDP) rose by 0.2 percent in the July-September period, reported, confirming its earlier preliminary estimates.

This was the slowest rate of economic growth since the second quarter of 2014 and a marked slowdown from 0.4 percent growth in the second quarter.

On the year, the GDP growth rate in the 19-country currency bloc was 1.6 percent, said, revising down its earlier estimate of a 1.7 percent expansion.

The economy of Germany, the euro zone's largest, contracted by 0.2 percent on the quarter, France's was 0.4 percent stronger, while Italy's GDP shrunk by 0.1 percent.

In a separate release on Friday, confirmed its previous estimates on employment growth in the euro zone.

The number of people employed in the euro zone increased by 0.2 percent quarter-on-quarter and by 1.3 percent year-on-year, compared with rates of 0.4 and 1.5 percent respectively in the second quarter.

(Reporting by Francesco Guarascio)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 17:54 IST
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