FXstreet.com (Barcelona) - Gross Domestic product of the 13 countries belonging to the Euro Zone has been revise up to a 0.8% increase in the third quarter of the year, from a 0.7% increase previously estimated, according data released by Eurostat.
Compared to the same quarter last year, GDP has grown 2.7%, unchanged from the previous estimation. Third quarter figures represent a pick up in Euro Area's economy compared to the second quarter, as the GDP increase from April to June 2007 was a lower 0.3%, while the yearly increase was 2.5%.
Compared to the 1.2% GDP increase in US economy and the 0.4% increase posted in Japan, GDP figures for the third quarter show that Euro Zone's economy is progressing at a strong pace.
Investment in the Euro Zone increased by 1.7% in the third quarter of the year, while exports increased 2.2%and imports increased 2.6%; Household consumption grew 0.5% ion the quarter.