The economies of the 27 member states of the European Union as a whole grew by 2.1% in the third consecutive quarter, slightly increasing their pace of growth from the previous quarter. Nevertheless, Portugal in countercycle: Between July and September, Portugal’s economy slowed down, although it grew above average.
According to a quick estimate of GDP and employment released on Tuesday, November 16, EurostatAs the growth of the EU economy as a whole, and only 27 member countries, accelerated in the third quarter of the year compared to the previous three months. In the 27th year, the GDP grew by 2.1% (in the second quarter – by 2.2%); if we consider only countries with a single currency, the economy grew by 2.1% (compared to 2% in the second quarter).
Eurostat now confirms that Portugal grew 2.9% between July and September after the economy grew 4.4% in the previous quarter, according to the National Institute of Statistics (INE) at the end of October.
This slowdown is also noticeable in other EU countries, such as Lithuania or Latvia, where new waves of the covid-19 pandemic began to make themselves felt in early August.
On the other hand, the EU also has large economies such as Spain and France, which have accelerated strongly compared to the previous quarter: Spain’s GDP grew 2% in the chain after growing 1.1% in the previous quarter, while the French the economy grew 3% after growing 1.3% in the second quarter.
On an annualized basis, there has been a slowdown: Eurozone GDP grew by 3.7% and EU GDP increased by 3.9% in the third quarter after growing by 14.2% and 13.7% respectively in the previous quarter. …
The same is happening in Portugal: after the Portuguese GDP grew by 16.1% in the second quarter, it grew by 4.2% from July to September.
Employment increased by 0.9%
Employment also accelerated in the European Union and the Eurozone, according to Eurostat. After employment rose by 0.8% and 0.7% respectively in the second quarter, it increased by 0.9% in both groups of countries.
There was also an acceleration in employment growth year-on-year, as employment rose 2% in the eurozone and 2.1% in the EU in the third quarter of this year, after rising 1.9% in both areas in the second quarter. quarter.
(News updated at 10:40)
