Business News

Eurozone GDP growth in Q3 as inflation picks up

BRUSSELS, Oct 31, (APP/AFP) – Growth in the eurozone remained stable at 0.3 percent in the third quarter of 2016 as inflation rose to a 27-month high, official EU data showed on Monday. The figured showed that the recovery in the 19-nation single currency area remained cautious amid fears about the fallout of Brexit and an emerging banking crisis. Consumer prices, which entered deflationary territory last year, rose a higher-than-expected 0.5 percent, the highest since June 2014. Analysts surveyed by Factset had forecast inflation of 0.4 percent for the period.