Eurozone GDP expands 0.4% in Q3, beats 0.2% estimates

According to Eurostat, Eurozone preliminary Gross Domestic Product (GDP) growth remains stronger at 0.4% in the third quarter this year, compared to estimates of 0.2%. In the second quarter, the GDP growth was 0.8%. On an annualzied basis, the GDP growth rate remained unexpectedly stronger at 1.3%, while it was expected to cool down to 1.1% from the previous reading of 1.2%.

The Unemployement Rate in September remains stable at 6.5%, higher than 6.4% estimates. The August figure was revised higher from 6.4%.

Market reaction

A mild positive action is occurs in the Euro (EUR), following the data release. As of writing, EUR/USD is up 0.23% to near 1.1202.