Euro zone GDP, Q3 2024

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Euro zone GDP, Q3 2024

People walk down the iconic Alcalá street on a very hot afternoon in Madrid, Spain.

Miguel Pereira | Getty Images News | Getty Images

The euro zone economy grew 0.4% in the third quarter, flash figures published by the ********* Union’s statistics agency showed Wednesday.

Economists polled by Reuters had expected growth of 0.2%. following the bloc’s 0.3% expansion in the second quarter.

Analysts say euro zone growth should cautiously pick up in the coming months, amid lower interest rates and cooling inflation.

The ********* Central Bank cut rates for the third time this year at its October meeting, after headline inflation came in at 1.7% in September, according to a final reading. The ECB cited persistent signs of weak activity in the euro area as a key factor in the central bank’s decision to enact an October cut.

Markets have fully priced another 25-basis-point cut from the ECB in its last meeting of the year in December.

The euro zone’s biggest economy, Germany, recorded surprise growth of 0.2% in the third quarter, according to figures published on Wednesday. That allowed the country to avoid the recession that had been forecast by some economists.

This is a breaking news story and will be updated shortly.

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