Positive Economic|Numbers in EU and US | Courthouse News Service
Saturday, December 2, 2023
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Positive Economic|Numbers in EU and US

WASHINGTON (CN) - The third-quarter economic comeback was stronger in the United States than in the European Union, but both regions experienced an economic turnaround between July and September after a year of contractions, according to a report released Friday.

The American economy grew by 0.9 percent between July and September as compared to the prior three months, while the European economy grew by a much smaller one-fifth of a percent.

In the United States, the economy was still weaker, 2.3 percent smaller, than it was during the same quarter of last year. Europe's economy is still 4.3 percent smaller than it was a year prior.

Lithuania's economy grew the most during the third quarter, by 6 percent. The main contributor to the turnaround however, is considered Germany, which represents the union's largest economy and which underwent an impressive 0.7 percent growth.

France achieved a more moderate 0.3 percent growth.

The United Kingdom and Spain didn't even get an upturn. The British economy continued to shrink by 0.4 percent during the third quarter, in line with the 0.3 percent Spanish contraction.

Japan's recession ended during the second quarter, before the United States and Europe, having risen 0.2 percent between April and June.

The comparison comes from a Eurostat report released Friday.

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