Eurozone Q3 GDP rises faster by 0.6% vs. flash estimates of 0.4%

Sagar Dua FXStreet

According to revised estimates, the Eurozone Gross Domestic Product (GDP) expanded at a faster pace of 0.6% in the third quarter this year. The preliminary data showed that the economy grew at a moderate pace of 0.4%.

On an annualized basis, the Eurozone economy rises in line with preliminary estimates of 1.3%.

Market reaction

No major action is obseved in the Euro (EUR), following the release of the Eurozone second Q3 GDP estimates. At press time, EUR/USD is flat at around 1.1054.

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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