Eurozone’s third-quarter economy shows resilience, leaving room for further rate hikes by the European Central Bank

(1) The Eurozone economy has demonstrated resilience against adverse factors such as the war in Iran, which gives the European Central Bank further room to raise interest rates to curb inflation. (2) On Friday, Eurostat stated that the Eurozone, consisting of 21 member states, saw a 0.4% quarter-on-quarter GDP growth in the third quarter, consistent with the preliminary figure released in October. (3) At that time, analysts only expected the growth rate to be half of the above level.