Eurozone
The economy in the 19 Eurozone countries in the third quarter of 2016 rose 0.3% compared with the previous three months, according to revised data of Statistics of the European Union.
The growth compared to July-September 2015 amounted to 1.6%.
Both figures are in line with both the preliminary data, and with the forecasts of experts.
In the second quarter, Eurozone GDP also increased by 0.3% for the quarter and 1.6% for the year.
The EU GDP in the July-September increased by 0.4%, as in the second quarter. In annual terms, the economy grew by 1.8%.
The sustainable growth of the European economy is particularly due to the growth acceleration in Austria (0.5% to 0.1% in quarterly terms), and a return to growth in the economies of France and Italy.
The French GDP rose in the third quarter by 0.2% after dropping by 0.1% in April-June, and the Italian economy rose 0.3% after stagnating in the previous quarter.
Statistical data show that the recovery of the Eurozone economy is not losing momentum, despite the decision of the UK to leave the European Union, notes Financial Times.
The final data on the Eurozone GDP for the third quarter will be published on 6 December.
The Germany GDP in the third quarter rose 0.2% compared with the previous three months, according to Destatis.
The GDP of the Netherlands (y/y) rose 2.4% compared with 2.3% in the previous month, while there was expected a growth by 1.9%.
The Hungarian GDP (y/y) fell 2.0% compared with 2.8% in the previous month, while there was expected a growth by 2.5%.
The index of economic sentiment in the Eurozone, provided by ZEW, rose more than expected last month. According to the report prepared by the Centre for European Economic Research (the ZEW), the indicator (seasonally adjusted) was 15.8 compared with 12.3 in the previous month. The experts a expected a growth to 14.3.
UK
In the UK, based on the official data released on Tuesday, the consumer price index (CPI) growth unexpectedly slowed in October. The Office for National Statistics said that the UK consumer price index rose last month by 0.9% y/y, lower than the expected growth by 1.1%, compared with an increase by 1.0% in September.
In monthly terms, the CPI rose in October by 0.1% compared to the expected 0.3% and following a 0.2% increase in the previous month.
The head of the Bank of England, Governor Mark Carney, now has to write an open letter to the Chancellor of the Treasury Philip Hammond, as the inflation rate is one percentage point below the target level for the central bank's 2.0%.
Core CPI, which excludes the cost of food, energy, alcohol and tobacco, rose last month to a seasonally adjusted 1.2%, below the expected growth by 1.4%, compared with a 1.5% increase in September.
The retail price index in October rose 2.0% after a similar increase in the previous month. Analysts had forecast an increase by 2.2%.