Eurozone GDP expands 0.4% in Q3, beats 0.2% estimates

Sagar Dua FXStreet

According to Eurostat, Eurozone preliminary Gross Domestic Product (GDP) growth remains stronger at 0.4% in the third quarter this year, compared to estimates of 0.2%. In the second quarter, the GDP growth was 0.8%. On an annualzied basis, the GDP growth rate remained unexpectedly stronger at 1.3%, while it was expected to cool down to 1.1% from the previous reading of 1.2%.

The Unemployement Rate in September remains stable at 6.5%, higher than 6.4% estimates. The August figure was revised higher from 6.4%.

Market reaction

A mild positive action is occurs in the Euro (EUR), following the data release. As of writing, EUR/USD is up 0.23% to near 1.1202.

Economic Indicator

Gross Domestic Product s.a. (QoQ)

The Gross Domestic Product (GDP), released by Eurostat on a quarterly basis, is a measure of the total value of all goods and services produced in the Eurozone during a certain period of time. The GDP and its main aggregates are among the most significant indicators of the state of any economy. The QoQ reading compares economic activity in the reference quarter to the previous quarter. Generally, a rise in this indicator is bullish for the Euro (EUR), while a low reading is seen as bearish.

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