BRUSSELS – Official figures show that the recovery from recession in the 17-country eurozone continued in the third-quarter of the year — but only just.
Eurostat, the EU's statistics agency, says Thursday that the region posted economic growth of 0.1 percent during the July to September period compared with the previous three-month period. That was in line with market expectations but below the previous quarter's 0.3 percent growth.
The eurozone emerged from its longest-ever recession in the second-quarter, but the Eurostat figures dash hopes that the recovery might accelerate.
The weak economic backdrop is one reason why the European Central Bank cut its main interest rate last week to a record-low 0.25 percent.
Thursday's figures show the recovery has run out of steam in the core economies such as Germany and France.