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, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.
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.
”Euro area annual inflation is expected to be 0.7% in October 2019, down from 0.8% in September..”
Euro area annual inflation is expected to be 0.7% in October 2019, down from 0.8% in September, said Eurostat.
Looking at the main components of euro area inflation, services is expected to have the highest annual rate in October (1.6%, compared with 1.5% in September), followed by food, alcohol & tobacco (1.6%, stable compared with September), non-energy industrial goods (0.3%, compared with 0.2% in September) and energy (-3.2%, compared with -1.8% in September).
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”Euro area unemployment at 7.5%”
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. These figures are published by Eurostat, the statistical office of the European Union.
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.
Among the Member States, the lowest unemployment rates in September 2019 were recorded in Czechia (2.1%) and Germany (3.1%). The highest unemployment rates were observed in Greece (16.9% in July 2019) and Spain (14.2%).
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Compared with a year ago, the unemployment rate fell in 22 Member States, remained stable in Belgium, Portugal and Romania while it increased in Lithuania (from 6.3% to 6.5%), Denmark (from 5.0% to 5.3%), and Sweden (from 6.3% to 7.3%). The largest decreases were registered in Greece (from 19.1% to 16.9% between July 2018 and July 2019), Cyprus (from 8.0% to 6.6%) and Estonia (from 5.3% to 3.9% between August 2018 and August 2019).
In September 2019, the unemployment rate in the United States was 3.5%, down from 3.7% in August 2019 and from 3.7% in September 2018.
In September 2019, 3.223 million young persons (under 25) were unemployed in the EU28, of whom 2.283 million were in the euro area. Compared with September 2018, youth unemployment decreased by 145 000 in the EU28 and by 109 000 in the euro area. In September 2019, the youth unemployment rate was 14.5% in the EU28 and 15.9% in the euro area, compared with 15.0% and 16.7% respectively in September 2018. In September 2019, the lowest rates were observed in Czechia (4.4%), Germany (5.9%) and the Netherlands (7.2%), while the highest were recorded in Greece (33.2% in the second quarter of 2019), Spain (32.8%) and Italy (28.7%)