December 8, 2015 / 10:07 AM / 4 years ago

Households, inventories boost euro zone GDP despite negative trade

BRUSSELS (Reuters) - Rising inventories and higher household spending were the main driving forces behind euro zone economic growth in the third quarter, offsetting a negative impact from trade, final data from the European Union’s statistics agency showed.

Eurostat confirmed on Tuesday that economic growth in the 19 countries sharing the euro was 0.3 percent quarter-on-quarter in the July-September period and 1.6 percent year-on-year, as estimated earlier and expected by markets.

In the previous three months, the economy grew 0.4 percent on the quarter and 1.6 percent in annual terms.

Household consumption added 0.2 percentage points to the final outcome in the third quarter and inventories another 0.2 points. Government spending also helped with 0.1 point, but foreign trade subtracted 0.3 points as imports rose by much more than exports.

Reporting By Jan Strupczewski; editing by Philip Blenkinsop

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