Eurozone economic recovery slows in Q3 with quarterly growth of just 0.1 percent
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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.
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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.