The economy of the European Union stagnated in the third quarter compared to the previous three months. This was stated by the statistical office Eurostat in a detailed report. The economy did not grow even on a year-on-year basis, although an estimate published in mid-November indicated growth of 0.1 percent. With a quarter-on-quarter drop of 0.5 percent, the Czech Republic is the fifth worst of the 27 member states of the Union.
The eurozone reported a 0.1 percent fall in gross domestic product (GDP) in the third quarter, the same as the previous estimate. However, like the entire EU, it stagnated year-on-year, while the November estimate showed growth of 0.1 percent.