France reported a fifth straight quarterly growth in the third
quarter, INSEE data showed on Tuesday, ahead of euro area GDP figures due later
in the day.
The French economy expanded 0.5 percent in the quarter through
September from an upwardly revised growth of 0.6 percent in the previous three
months.
On the yearly basis, the eurozone’s second-biggest economy grew
2.2 percent, the strongest pace since 2011.
Consumer spending and business investment were the key drivers
of growth over the quarter, said INSEE.
Data released yesterday showed that Spain expanded 0.8 percent
on the quarter and 3.1 percent year-on-year.
Later in the day, the preliminary GDP for the euro area is
predicted to witness a growth of 0.5 percent, following a 0.6 percent expansion
in the second quarter.
As
of 07:45 GMT, the euro traded near the session’s open versus the U.S. dollar at
1.1636, after showing slight recovery the previous session.
