Euro zone growth curbed by trade, retail sales sharply
Added 12-05-19 06:04:02am EST - “The euro zone economy grew at a modest pace in the third quarter with a negative impact from trade, while retail sales fell at their sharpest rate this year in October, data showed on Thursday. Retail sales in the euro zone in October…” - News.yahoo.com
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BRUSSELS (Reuters) - The euro zone economy grew at a modest pace in the third quarter with a negative impact from trade, while retail sales fell at their sharpest rate this year in October, data showed on Thursday.
Gross domestic product (GDP) in the 19 countries sharing the euro was up 0.2% in the July-September period, the same figure as the flash estimate released in October and unchanged from the second quarter.
Retail sales in the euro zone in October fell by 0.6%, double the amount expected in a Reuters poll, and were up a modest 1.4% year-on-year. The monthly decline was the steepest fall of 2019.
The data confirmed a sombre outlook for the single currency bloc, which is facing threats and uncertainty over Brexit and rising global trade conflicts.
Britain had been set to exit the European Union at the end of October, a deadline since pushed back until the end of January.
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