Brussels: The euro area economy grew 0.2% in the third quarter of this year, exceeding market expectations, according to preliminary data released Thursday by Eurostat. The figure followed a 0.1% expansion in the previous quarter, which is what economists had forecast again for the July to September period.

According to Anadolu Agency, across the European Union, gross domestic product (GDP) rose 0.3% during the same period. Among member states, Sweden posted the strongest quarterly growth, with GDP rising 1.1%, followed by Portugal at 0.8% and Czechia at 0.7%. Lithuania saw the largest contraction, with output down 0.2%, while Ireland and Finland each recorded a 0.1% decline.

On an annual basis, the eurozone's GDP expanded 1.3%, compared to 1.5% for the wider EU, Eurostat said. The eurozone represents the 20 member states that use the euro as their official currency.