Analysts had expected a small 0.1 percent increase in economic output for the July-September months. However, the economy lost momentum during the summer months. Gross domestic product increased by 0.8 percent in the second quarter. In the third quarter, the economy in the common currency area grew by 2.1 percent year on year, according to Eurostat.
Economic development in individual countries continues to change. While the major economies in the eurozone have grown slightly, the economy in Latvia has shrunk significantly. The Baltic states are currently suffering from the consequences of once close economic ties with Russia, which have become a strain in the wake of the Ukraine war and Western sanctions.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
