InvestmentsDec 8 2014

Eurozone GDP creeps higher over third quarter

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GDP was up by 0.2 per cent in the eurozone during the third quarter this year, compared to 0.8 per cent in the same period of 2013.

In the second quarter GDP grew by 0.1 per cent, according to official figures from Eurostat.

Among member states for which data was available, Romania led the pack with 1.8 per cent GDP growth, while Poland was on 0.9 per cent for the quarter.

Greece, Slovenia and the United Kingdom were all up 0.7 per cent; the highest growth compared with the previous quarter.

Meanwhile, Cyprus (-0.4 per cent), Austria (-0.3 per cent) and Italy (-0.1 per cent) all registered GDP decreases over the period.

On Thursday (4 December) markets reacted negatively to comments from European Central Bank president Mario Draghi, after the central bank decided to keep its base interest rate and monetary policy measures unchanged.

In a statement after the meeting, he said the central bank would reassess its monetary stimulus measures “early next year”.

The Bank of England also maintained the bank rate at 0.5 per cent and the size of the asset purchase programme at £375bn.

peter.walker@ft.com