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Euroland Growth, Eclipsing US Economy

Euroland Growth, Eclipsing US EconomyEuroland Growth, Eclipsing US Economy

The eurozone’s annual economic growth rate outstripped that of the United States in the third quarter setting up 2017 as the best year for the currency area since financial markets crashed a decade ago.

Germany was a major factor, but even some of the bloc’s laggards, such as Italy, showed signs of revival, Reuters reported.

Eurostat, the European Union statistics office, confirmed a preliminary estimate that euro zone gross domestic product (GDP) grew 0.6% from July to September from the previous quarter and on a year on year basis was 2.5% higher.

This was higher than the 2.3% year-on-year rate for the US economy, which had been growing faster than the euro zone. The US quarterly numbers were slightly better than euroland at 0.7%, however.

 

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