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Eurozone economy slows in third quarter | |
(about 2 hours later) | |
The eurozone's economy grew by 0.3% in the third quarter of the year, official figures have shown. | |
Growth in the 19-nation bloc has slowed from 0.4% in the previous quarter and 0.5% in the January-to-March period, the Eurostat figures show. | |
Germany's economy slowed in the third quarter of the year, but growth in France picked up. | |
Spain enjoyed a growth rate of 0.8%, but Greece's economy contracted by 0.5%. | |
Higher imports | Higher imports |
Germany's economy grew by 0.3% in the July-to-September period, down from 0.4% in the previous quarter. | |
The country's Federal Statistics Office said the economy had shown "continued moderate growth". | |
It said growth was helped by increased domestic consumption, but it added foreign trade "had a downward effect on growth because the increase in imports was markedly larger than that of exports". | It said growth was helped by increased domestic consumption, but it added foreign trade "had a downward effect on growth because the increase in imports was markedly larger than that of exports". |
The French economy also grew by 0.3% in the same period, but this marked a pick-up from zero growth previously. | |
The French statistics agency INSEE said a rise in imports had also weighed on the country's growth rate. | |
But it added that the economy saw an increase in household spending, and that production of goods and services picked up. | But it added that the economy saw an increase in household spending, and that production of goods and services picked up. |
INSEE also confirmed that the economy recorded a zero growth rate in the second quarter of the year, and grew by 0.7% in the January-to-March period. | |
"The (GDP) figure... confirms that we have left in 2015 the period of very weak growth that France had experienced since 2011," said French Finance Minister Michel Sapin. | "The (GDP) figure... confirms that we have left in 2015 the period of very weak growth that France had experienced since 2011," said French Finance Minister Michel Sapin. |