BRUSSELS, Nov. 15 (UPI) -- The European Union's economy grew 0.2 percent in the third quarter compared to the second, the statistical agency Eurostat reported Tuesday.
Tuesday's report said growth in the 17-member eurozone and the 27-member European Union was consistent, rising 0.2 percent quarter to quarter and 1.4 percent on an annual basis.
With Europe struggling to reduce national debt in Italy, Greece, Spain and elsewhere, the figures showing slow growth will mean very slim growth of government tax revenues, if any. The European Commissioner for Monetary Affairs Olli Rehn recently said the economic recovery in Europe had stalled and a double-dip recession was likely, The New York Times reported.
The data, showed quarter to quarter growth of 0.5 percent in Germany, 0.4 percent in France and 0.8 percent in Estonia.
In the Netherlands, the gross domestic product contracted 0.3 percent. In Cyprus, it contracted 0.7 percent.
A lack of data prevented Eurostat from hazarding a guess on growth in Italy, Greece and Ireland. In Spain, the GDP was flat quarter to quarter, the agency said.
