Ireland demonstrated the strongest growth with a 2.3% increase in GDP, significantly exceeding original projections for the euro zone.
The economies of the 19 nations of the euro zone are being supported by consumer spending and business investment, according to data from the European statistics office Eurostat.
According to Eurostat, third-quarter GDP growth in the euro zone was 0.3% from the second quarter and 2.3% from the previous year, exceeding the 0.2% and 2.1% flash estimates that were released in mid-November.
Gross fixed capital formation increased by 0.8 percentage points and household consumption by 0.4 percentage points in the euro zone. Government spending had a very small contribution, but trade had a net negative impact of 1.1 percentage points.
Following Ireland, Malta and Cyprus both experienced significant growth, increasing by 1.3% each. Slovenia, Latvia, and Estonia saw the biggest drops.
Similar to the second quarter of 2022, employment levels in the euro zone increased by 0.3% quarter over quarter.
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