Eurozone economy shrinks slightly in summer
As expected, the economy in the eurozone contracted slightly in the summer. Gross domestic product (GDP) fell by 0.1% in the period from July to September 2023 compared to the previous quarter, according to the statistics office Eurostat, confirming an initial estimate from the end of October.
In spring, the economy had still grown by 0.2 percent. In the larger EU, which consists of 27 states, the economy stagnated in the third quarter. GDP had already remained unchanged here in the spring.
The stagnation in the larger EU economy during the third quarter was a continuation from the spring, as GDP remained unchanged once again. This prolonged period of stagnation is a concern within the EU and the Euro zone, especially given the shrinkage observed in the eurozone economy during the summer.
Source: www.ntv.de
