Consumption, investment propel EU economy in Q3

Frankfurt

PRIVATE consumption and investment drove euro-area economic growth in the third quarter, underpinning a recovery that has spread across the 19-nation bloc.

Consumer spending contributed 0.2 percentage point to gross domestic product, with gross fixed capital formation adding another 0.2 point, the European Union's statistics office said on Thursday. The economy expanded 0.6 per cent from the second quarter, unrevised from an earlier estimate.