BRUSSELS (AP) — The latest news on the European economic figures released Friday. All times local:
11:00 a.m.
Official figures show that economy of the 19-country eurozone lost momentum during the third quarter despite a number of tail-winds.
Eurostat, the EU’s statistics agency, says quarter-on-quarter growth moderated to 0.3 percent from 0.4 percent in the previous three-month period.
The slowdown came as growth in Germany, Europe’s biggest economy, eased from 0.4 percent to 0.3 percent.
Spain was the standout among the eurozone’s big economies, growing by a quarterly rate of 0.8 percent.
The Greek economy shrank by 0.5 percent as it struggled with stringent controls on the free flow of money, notably a 60-euro a day limit on ATM withdrawals.
The figures are likely to cement market expectations that the European Central Bank will inject another dose of stimulus into the eurozone economy at its December policy meeting.
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9:20 a.m.
Figures later are expected to show that the 19-country eurozone economy grew by 0.4 percent in the third quarter from the previous three-month period.
However, following earlier figures showing Germany and France grew at a quarterly tick of 0.3 percent, there are predictions in the markets that the eurozone figure could come in slightly lower at 0.3 percent.
RBC Capital Markets economist Timo del Carpio said the risks to the eurozone growth rate “are titled toward a marginally softer outcome.”
The eurozone figures are due at 11:00 a.m. local.
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8:45 a.m.
Germany’s economy, Europe’s biggest, grew by 0.3 percent in the third quarter of the year from the previous three-month period — another modest increase that was in line with market expectations.
The increase reported by the Federal Statistical Office was a tad lower than the 0.4 percent increase reported in the second quarter.
The agency said the third-quarter growth was mainly due to “domestic final consumption expenditure” with both household and government consumption spending rising.
The German government last month trimmed its economic growth forecast for this year to 1.7 percent from 1.8 percent, citing weakness in China and other major emerging economies. It left its 2016 forecast unchanged at 1.8 percent.
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8:25 a.m.
France’s economy grew 0.3 percent in the third quarter from the previous three-month figure, a modest increase that is likely to ease fears of stagnation in the eurozone’s No. 2 economy.
The increase was in line with market expectations and welcome after that France saw zero growth in the second quarter. Based on the third quarter rise, state statistics agency Insee said it expects 1.1 percent growth this year.
Consumer spending was the main driver behind the quarterly rise. It grew 0.3 percent.
French President Francois Hollande’s Socialist government is trying to loosen up labor rules to encourage investment and reduce unemployment, which has stayed around 10 percent for years.
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