Eurozone economy edges up 0.1%

Gross domestic product (GDP) of the eurozone edged up 0.1 percent in the third quarter this year on a quarterly basis, Eurostat data showed Thursday. For the 28-nation European Union (EU), GDP rose by 0.2 percent in the third quarter compare to the previous three months. Due to the euro debt crisis, eurozone GDP either contracted or stagnated for six consecutive quarters until the second quarter this year when the economy grew 0.3 percent. Year on year, GDP fell by 0.4 percent in the euro area and rose by 0.1 percent in the EU in the third quarter of 2013, after contracting 0.6 percent and 0.2 percent respectively in the previous quarter.