BRUSSELS, Dec 7 Reuters Euro zone gross domestic product GDP grew by slightly more than initially estimated, data from the European statistics agency Eurostat showed on Wednesday, with household spending and business investment propping up the economy.

Eurostat said GDP growth in the third quarter was 0.3 in the 19country euro area in the JulySeptember period from the previous quarter and 2.3 yearonyear, above its flash estimates of 0.2 and 2.1 published in midNovember.

Household spending added 0.4 percentage points to euro zone growth and gross fixed capital formation 0.8 points. The contribution from government expenditure was negligible, while trade was a net negative of 1.1 percentage points.

The strongest growth, of 2.3, was recorded in Ireland, with Malta and Cyprus both expanding at 1.3. The steepest declines were in Estonia, Latvia and Slovenia.

Employment levels also expanded in the euro zone by 0.3 quarteronquarter, the same pace as in the second quarter of 2022.

Reporting by Philip Blenkinsop; Editing by Sudip KarGupta

Source Reuters