There was no change in eurozone economic growth between July and September – it was at the same slow pace as in the previous quarter.<br /><br /> Gross domestic product in the nineteen countries using the euro rose 0.3 percent quarter-on-quarter.<br /><br /> It was up by 1.6 percent from the same period last year.<br /><br /> Economists said the numbers reflected the European Central Bank’s stimulus efforts to revive the region’s economy. <br /><br /> There were few signs of a negative impact from the June referendum vote for Britain to leave the European Union.<br /><br /> Euro area GDP +0.3% in Q3 2016, +1.6% compared with Q3 2015 #Eurostat https://t.co/C9hKPAvKWK pic.twitter.com/opphv61XIr— EU_Eurostat (@EU_Eurostat) October 31, 2016<br /><br /> The ECB will also be looking closely at the latest inflation figures which were released at the same time. <br /><br /> It is estimated consumer prices rose by 0.5 percent in October compared with the same month last year.<br /><br /> That was up from September’s 0.4 percent and August’s 0.2 percent. <br /><br /> Higher energy prices were a big factor. <br /><br /> However core inflation – which excludes the most volatile prices for unprocessed food and energy – was just 0.7 percent year-on-year, down from 0.8 percent in the previous five months.<br /><br /> Euro area inflation up to 0.5% in October 2016: flash estimate from #Eurostat https://t.co/gtkF6OcwMp pic.twitter.com/aLnkGX5GrP— EU_Eurostat (@EU_Eurostat) October 31, 2016<br /><br /> The European Central Bank would like a greater rate of overall inflation – close to two percent in the medium term.<br /><br /> It has been pumping money into the eurozone economy by buying government bonds to try to beef it up.<br /><br /> That bond buying programme is due last until March 2017 and ECB policymakers have to decide in December how much longer they will continue to do that. <br /><br /> Howard Archer, chief European economist at IHS Markit said it was conceivable that the ECB could announce a lower rate of purchases after March.<br /><br /> “Even if eur zone growth does show further signs of improvement over the coming weeks, there is a compelling case to try and fuel the improvement given past hiccups,” he said.<br /><br /> Eurozone inflation reaches 2-year high https://t.co/2zJ8Kd767A— Financial Times (@FinancialTimes) October 31, 2016<br /><br /> Eurozone inflation too Weak, ECB’s Peter Praet says https://t.co/fZN9rvjsx4— Nell Henderson (@NHendersonWSJ) October 26, 2016<br />
