According to first estimate figures published Friday by Eurostat, the Statistical Institute of the European Union, the economy of the fifteen countries that share the euro today decreased by 0.2% compared to the second quarter, according to the consensus of economists polled by Reuters.
In the second quarter, GDP had declined by 0.2% and a year, it posted an increase of 1.4%.
The performance of the euro area has been worse than that of the United States where GDP fell by 0.1% in the third quarter and increased 0.8% annualized rate.
The decline in the Europe of 15 is attributable primarily to a recession in Germany, the first area economy, and Italy the third, where GDP fell by 0.5% in July-September.
France, the second area economy, it has, against all expectations, increased by 0.1% of its business in the third quarter, avoiding a recession.
The GDP of Spain fell by 0.2% in the third quarter for the first time in 15 years, and the European Commission expects the country into recession after an expected decline in activity in the fourth quarter
With the economy flagging, demand for oil in the zone and reduced inflationary pressures have eased.
Inflation has remained unchanged in October in the euro area, giving an annual inflation rate of 3.2% which confirms the flash estimate, according to data published Friday by Eurostat.
This marks a further slowdown in inflation for the area, where the annual inflation rate was 3.6% in September, a good argument for those who anticipate another rate cut by the European Central Bank ( ECB).
This contraction of inflation due mainly to a decrease of 2.9% in energy prices from one month to another.
Excluding energy and food not packed, monthly inflation amounted to 0.4% in October and annual 2.4% against 2.5% in September.
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