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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

December 07, 2018

Eurostat reports today that real GDP rose by 1.2 per cent (seasonally adjusted annualized rate) in the European Union (revised down 0.2 percentage points) and by 0.6 per cent in the Euro Area (revised down 0.1 percentage points) in the third quarter of 2018.  Real GDP growth has been slower in in the first three quarters of the year compared to 2017. Comparing Q3 2018 with Q3 2017, seasonally adjusted GDP rose by 1.6 per cent in the Euro Area and 1.8 per cent in the European Union.

For the EU28, household consumption growth in Q3 2018 was similar to recent quarters while government expenditure growth rates have increased in recent quarters. Capital formation has been on a general upward trend since 2013. Exports were up in Q2 and Q3 after a decline in Q1 2018.


For the EA19, household consumption continues an upward trend that began in 2013. Government consumption expenditures growth rates have risen for Q2 and Q3 2018 compared to the previous two quarters. Capital formation have been expanding since 2013. Export volume from the euro area have generally been flat in 2018.

Source: Eurostat

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