Eurozone economic growth slows in Q3

PanARMENIAN.Net - Economic growth in the eurozone slowed to 0.3% in the third quarter of the year, latest figures have shown, BBC News reports.

The rate was lower than expected, and compared with a pace of 0.4% recorded in the previous quarter. The pace of expansion in Germany, the eurozone's largest economy, slowed, but France returned to growth.

The European Central Bank (ECB) is widely expected in December to expand its stimulus programme, which aims to lift inflation and support growth.

Germany's economy grew by 0.3% in the July-to-September period, down from 0.4% in the previous quarter.

The French economy also grew by 0.3% in the same period, but this marked a pick-up from zero growth previously. The economy saw an increase in household spending; production of goods and services picked up.

Among the other major eurozone economies, the growth rate in Italy slowed to 0.2%, which was worse than expected, while the Spanish economy grew by 0.8%.