Eurozone economy grows faster than expectations

Euro zone employment grew slightly more than expected last quarter, and the economy expanded at a solid pace, offering hope for a soft landing after over a year of near-stagnation.

Employment in the 20-nation bloc rose by 0.2%, doubling the forecast, pushing the annual growth rate to 1.0%. While job growth remains modest, it alleviates concerns that a downturn in the labour market could lead to a recession, especially amid weak external demand and poor industrial performance.

The economy grew by 0.4% in Q3, double economists’ expectations, though high interest rates and weak demand pose ongoing challenges for businesses.

via Reuters