Tue. Dec 6th, 2022

The European economy continued to cool with GDP in the Eurozone and the wider EU expanding only marginally in the third quarter. The latest figures from Eurostat show that gross domestic product rose by just 0.2% in the single currency area and the bloc as a whole.

That compares with second-quarter figures of 0.8% in the eurozone and 0.7% in the wider EU.

There was also a slowdown in job creation between July and September, falling from an increase of 0.4% to 0.2% in the third quarter.

Many experts predict that economic growth in the EU will turn negative in the last quarter of this year.

Rising inflation, high energy prices and general instability caused by the war in Ukraine are weighing heavily on the European economy.