Seasonally adjusted GDP rose by 0.3 pct in the Eurozone and by 0.4 pct in the EU-28 during the third quarter of 2016, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.
In the second quarter of 2016, GDP had also grown by 0.3 pct in the euro area and by 0.4 pct in the EU-28. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6 pct in the euro area and by 1.8 pct in the EU-28 in the third quarter of 2016, after +1.6 pct and +1.8 pct also in the previous quarter.
European quarterly national accounts are compiled in accordance with the European System of Accounts 2010 (ESA 2010).
Euro area annual inflation is expected to be 0.5 pct in October 2016, up from 0.4 pct in September 2016, according to a flash estimate from Eurostat. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in October (1.1 pct, stable compared with September), followed by food, alcohol & tobacco (0.4 pct, compared with 0.7 pct in September), non-energy industrial goods (0.3 pct, stable compared with September) and energy (-0.9 pct, compared with -3.0 pct in September).