Eurozone 3Q GDP Up 12.7%‥EU Up 12.1%

[Asia Economy New York=Correspondent Baek Jong-min] The Eurozone, consisting of 19 European Union (EU) member countries using the euro, saw its third-quarter gross domestic product (GDP) increase by 12.7% compared to the previous quarter, according to Eurostat, the EU's statistical office, on the 30th (local time). The GDP of all 27 EU member countries rose by 12.1% compared to the previous quarter.

This is a rebound from the second quarter, when the Eurozone GDP decreased by 11.8% and the entire EU decreased by 11.4% compared to the previous quarter.

However, the third-quarter GDP still decreased by 4.3% in the Eurozone and 3.9% in the EU compared to the same period last year.

By member country, France saw the largest increase with an 18.2% rise compared to the previous quarter, followed by Spain at 16.7%, Italy at 16.1%, Portugal at 13.2%, and Germany at 8.2%.