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Third quarter GDP sluggish in Europe

BRUSSELS, Nov. 14 (UPI) -- Economic growth slowed in the third quarter of the year from the second, the European Commission's data office said Thursday.

Eurostat said the gross domestic product for the 17-member eurozone rose 0.1 percent in the third quarter over the second. A month ago, growth for the second quarter was estimated at 0.3 percent.

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Similarly, the GDP for the 28-member European Union rose 0.2 percent in the third quarter after rising 0.3 percent in the second, Eurostat said.

At an annualized rate, growth in the quarter came to 0.4 percent for the eurozone, sparking fears that the region could fall back into a third recession or stagnate, The Wall Street Journal reported.

"Worry is the dominant sentiment," said Parisian Alain Fontaine, a restaurant owner, who said that renovations at his restaurant Le Mesturet and raises for his staff would be put off for now.

Eurostat said the GDP in France in the third quarter dropped 0.1 percent from the second. In Germany, which has the region's largest economy, it rose 0.3 percent. In Britain, it rose 0.8 percent.

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