Euro zone growth slows to 0.4% in third quarter, Eurostat says

The short version

• Eurostat says euro zone economic expansion slowed to 0.4% in the third quarter.[CNBC]
• The reading beat a 0.2% Reuters poll forecast, but France unexpectedly contracted 0.1%.[CNBC]
• Germany grew 0.2%, Italy was flat, Spain rose 0.6%, and Ireland recorded 5.5%, a figure subject to revision.[CNBC]
• The European Central Bank held rates steady Thursday, saying energy price shocks had not yet spread to the wider economy.[CNBC]

Key facts

• Euro zone economic expansion slowed to 0.4% in the third quarter, according to Eurostat.[CNBC]
• The flash third quarter reading was higher than the 0.2% growth forecast in a Reuters poll of economists.[CNBC]
• France's economy unexpectedly contracted by 0.1% over the July to September period.[CNBC]
• Germany grew by 0.2% and Italy's growth was flat in the third quarter.[CNBC]
• Spain grew by 0.6% and Ireland recorded 5.5% growth in the third quarter.[CNBC]
• The European Central Bank voted to hold interest rates steady on Thursday.[CNBC]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Euro zone economy slows to 0.4% growth in Q3 as crisis-hit France contractsCNBC
• French economy 'headed for a wall' as GDP shrinks, finance minister warnsFrance 24
• Europe’s economy brushes off energy shock from Iran war, shows moderate growth in Q3Associated Press