ANKARA
The Eurozone economy rebounded slightly in the third quarter of the year after posting a near stagnating level of 0.1 percent in the previous quarter, the European statistical office has said.
“Seasonally adjusted GDP rose by 0.2 percent in the Euro area (EA18) and by 0.3 percent in the EU28 during the third quarter of 2014, compared with the previous quarter,” Eurostat said in the report released on Friday.
GDP growth in the Eurozone rose by 0.8 percent compared with the same quarter of last year, while it was 1.3 percent in the EU28, the report noted.
The institution also announced in a separate report that annual consumer price inflation in the Eurozone picked up slightly to reach 0.4 percent in October from 0.3 percent in September, its lowest point in the last five years.
Stagnation fears
The EU28 annual inflation rate rose to 0.5 percent in October from 0.4 percent the previous month, in line with Eurozone inflation forecasts.
Despite concerns of a slump in Eurozone recovery, the European Central Bank kept rates on hold for another month in its last monetary policy meeting after inflation slightly edged up in October.
However, the Organization for Economic Co-operation and Development (OECD) urged the European Central Bank on November 6 to act swiftly in order to prevent an increasing risk of stagnation in the euro area.
The OECD said the countries must employ all monetary, fiscal and structural reform policies at their disposal to address these risks and support growth.
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