The Eurostat statistics agency presented preliminary data for the area, indicating that the economy of the Eurozone grew by 0.4% in the third quarter. The European Central Bank reduced interest rates for the third time this year at its meeting in October after the inflation indicator in September reached 1.7% according to the final estimate. Economic experts, surveyed by Reuters, expected growth of 0.2% after the GDP volume increased by 0.3% in the second quarter. Analysts note: "It is expected that the economy of the Eurozone will cautiously recover in the coming months under conditions of reduced interest rates and slowing inflation."
The Central Bank of Europe refers to constant signs of weakened activity in the region.
