Euro zone grows faster than expected in third quarter

BRUSSELS, Nov 14 (Reuters): Euro zone economic growth was stronger than expected in the third quarter, preliminary data showed on Friday, as France beat market expectations and Germany steered clear of a recession.

A preliminary estimate by the European Union's statistics office Eurostat showed that the economy of the 18 countries sharing the euro expanded 0.2 per cent quarter-on-quarter in the July-September period after a 0.1 per cent rise in the previous three months.

Year-on-year, euro zone growth was 0.8 per cent in the third quarter, the same as in the second quarter, against market expectations of a 0.7 per cent rise.

Eurostat data showed Europe's biggest economy Germany grew 0.1 per cent, in line with expectations but confounding some economies who had feared a second quarter of negative growth. The euro zone's second biggest France grew 0.3 per cent against market expectations of a 0.2 per cent gain.