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GDP up 0.3% in euro area and 0.4% in EU28

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Staff Writer | November 1, 2016
Eurozone
Europe   Euro area annual inflation is expected to be 0.5%

Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter, according to Eurostat.

In the second quarter of 2016, GDP had also grown by 0.3% in the euro area and by 0.4% in the EU28.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.8% in the EU28 in the third quarter of 2016, after +1.6% and +1.8% also in the previous quarter.

Euro area annual inflation is expected to be 0.5% in October 2016, up from 0.4% in September 2016, according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, services is expected to have the highest annual rate in October (1.1%, stable compared with September), followed by food, alcohol & tobacco (0.4%, compared with 0.7% in September), non-energy industrial goods (0.3%, stable compared with September) and energy (-0.9%, compared with -3.0% in September).

There was a record EU surplus in trade in goods with Canada of €7 billion in 2015 but surplus for trade in services at its lowest point.

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