Economic growth in the eurozone has slowed to a snail’s pace.
The region saw growth of just 0.1% in the third quarter of the year, compared to growth of 0.3% in the April to June period.
Portugal scraped just above the average, showing growth of 0.2%.
The area’s power engine, Germany, managed growth of 0.3%, down from 0.7% in the second quarter. The country remains the strongest in the eurozone, and continues to have record high employment and demand for its exports.
But what has taken analysts by surprise is the dip in growth experience in France where the economy shrank by -0.1% after a gain of 0.5%.
A decline in export orders is behind the slowdown coupled with consumers in most countries, hit by austerity measures, unable to pump up domestic demand.
Eurostat also reported that the US economy was picking up, realising growth of 0.7% from July to September after 0.6% in the second quarter.
