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Europe’s economy has continued to cool with GDP in both the eurozone and the wider EU expanding only marginally in the third quarter. The latest figures from Eurostat show gross domestic product grew by just 0.2% in the single currency area and the bloc as a whole.
This is compared 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, dropping from a 0.4% increase to 0.2% in the third quarter.
Many experts are predicting economic growth will turn negative in the EU in the last quarter of the year.
Soaring inflation, high energy prices and general instability caused by the Ukraine war are weighing heavily on Europe’s economy.
