Central Banks
Euro-Zone Consumers Finally Start Spending, Boosting Growth
- Household outlays rose 0.7% q/q in 3Q as wages surge
- Gross domestic product up 0.4%, confirming earlier report
Europe has long been expecting a boost from consumers as incomes grow, inflation cools and interest rates fall.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
Private consumption in the euro area jumped by the most in two years in the third quarter, offering hope that shoppers are finally starting to power an economic recovery.
Household expenditure increased 0.7% from the previous three months, while investments advanced by 2%, Eurostat said Friday. Trade was a drag, leaving overall growth at 0.4% — as reported in an initial estimate.