Brussels – The European economy remains in ‘zero growth’ territory, slowing compared with the spring and the trade balance deteriorating. In the third quarter of 2026, the European Union’s gross domestic product (GDP) rose by 0.5 per cent from the previous three months, while growth in the eurozone was even slower at 0.4 per cent. This is according to preliminary estimates released today (13 November) by Eurostat, the EU’s statistical office, which show that the growth rate is lower than in the second quarter, when GDP rose by 0.7 per cent and 0.6 per cent, respectively.
Year-on-year, the European economy shows a more significant figure: between July and September, GDP rose by 1.5 per cent in the EU and by 1.3 per cent in the eurozone, but in both cases the pace of growth has slowed, marking an increase of just 0.1 percentage points compared with the previous quarter. This growth remains far behind that of the United States, where, while not exactly booming, gross domestic product rose by 0.8 per cent quarter-on-quarter and 2.1 per cent year-on-year.
Amid the general slowdown in the major European economies, Spain continues to stand out, with growth of 0.6 per cent from the previous quarter and 2.7 per cent year-on-year. Poland follows, recording growth of 0.8 per cent quarter-on-quarter and 3.6 per cent year-on-year. Germany grew by 0.2 per cent, while France recorded a contraction of 0.1 per cent. Italy, on the other hand, remains essentially stagnant: GDP shows no change from the second quarter and grew by 0.8 per cent year-on-year, slowing from +1 per cent recorded in the April–June period.
International trade data also confirm the difficulties Europe is facing. In September 2026, the eurozone recorded a trade-in-goods deficit of 10.3 billion euros with the rest of the world, a sharp deterioration from the surplus of 13.5 billion in the same month of 2025. Across the EU as a whole, the deficit reached 16.8 billion, compared with a surplus of 11.4 billion a year earlier.
The main factor was the growth in imports, which rose by 16.1 per cent in the euro area and by 17.9 per cent in the EU year-on-year, while exports grew by 6 per cent and 4.7 per cent, respectively. The main source of the imbalance was the energy sector: the European energy import deficit rose to 37.6 billion euros in September, up from 24.1 billion euros in the same month of 2025.
The figures for the first nine months of the year also show a reversal in the trend. Between January and September, the eurozone recorded a trade deficit of 36.5 billion, following a surplus of 102.2 billion recorded in the same period of 2025. For the EU, the shift was from a surplus of 85.5 billion to a deficit of 83.2 billion.
English version by the Translation Service of Withub
