Eurozone GDP growth stabilised in third quarter, unemployment rate remained at 7.5% in September

According to the report from Eurostat, seasonally adjusted GDP rose by 0.2% in the euro area (EA19) and by 0.3% in the EU28 during the third quarter of 2019, compared with the previous quarter. In the second quarter of 2019, GDP had grown by 0.2% in both zones.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.1% in the euro area and by 1.4% in the EU28 in the third quarter of 2019, after +1.2% in the euro area and +1.4% in the EU28 in the previous quarter.

A separate report from Eurostat showed, the euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in September 2019, stable compared with August 2019 and down from 8.0% in September 2018. This is the lowest rate recorded in the euro area since July 2008. The EU28 unemployment rate was 6.3% in September 2019, stable compared with August 2019 and down from 6.7% in September 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. 

Eurostat estimates that 15.635 million men and women in the EU28, of whom 12.335 million in the euro area, were unemployed in September 2019. Compared with August 2019, the number of persons unemployed increased by 48 000 in the EU28 and by 33 000 in the euro area. Compared with September 2018, unemployment fell by 889 000 in the EU28 and by 738 000 in the euro area.