- Prior -0.1%
- GDP Y/Y +0.6% vs +0.4% expected
- Prior +0.4%
The final figures show an improvement but this is not going to change anything for the ECB as it's more focused on inflation and has already stated many times that the current rate setting is appropriate.
The agency said: "Domestic demand net of inventories and valuables contributed 0.2 percentage points to GDP growth in the third quarter: +0.1 from Household and Non Profit Institutions serving Households (NPISH) consumption, and +0.1 from gross fixed investments, while the contribution from public administration (PA) spending was zero. The contribution from net foreign demand was also positive (+0.5 percentage points), while the change in inventories and valuables had a negative impact (-0.6 percentage points).
Positive quarterly quarter on quarter growth rates were recorded for the added value of agriculture (+0.8%) and services (+0.2%), while industry showed a negative trend (-0.3%)."
