According to the preliminary data released by Eurostat on October 31, the gross domestic product (GDP) of the euro area and the EU increased by 0.2% month on month in the third quarter of this year after seasonal adjustment. According to the data, after seasonal adjustment, the GDP of the euro area increased by 2.1% year on year in the third quarter of this year, and that of the EU increased by 2.4% year on year. In terms of countries, the GDP of Germany, the largest economy in the EU, increased by 0.3% month on month in the third quarter, while that of France, Spain and Italy increased by 0.2%, 0.2% and 0.5% month on month in the same period. The GDP of Belgium, Latvia and Austria shrank month on month in the third quarter. The data also showed that in the second quarter of this year, the GDP of the euro area grew 0.8% month on month and that of the EU grew 0.7% month on month. With the EU following the United States to implement multiple rounds of sanctions against Russia, the effect of backbiting has become increasingly prominent. Energy supply is short, prices are soaring, business operations and people's lives are difficult, and the economy is under further pressure. Analysts warn that a recession is looming in Europe. The analysis report of Oxford Economic Research Institute points out that it is not a question of whether the economy will decline, but how serious the recession will be. (Liu Xinshe)
Edit：Yi Bing Responsible editor：Wei Li Bin
Source：XinhuaNet
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