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Euro zone final Q3 GDP unchanged at -0.1%

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Investing.com - The euro zone's economy contracted in line with preliminary estimates in the third quarter of 2012, confirming a recession, final data showed on Wednesday.

In a report, Eurostat said that the euro zone's gross domestic product shrank 0.1% in the July-to-September period, in line with expectations and unchanged from a preliminary estimate.

The euro zone's economy shrank 0.2% in the preceding quarter. A technical recession is defined as two straight quarters of contraction.

Year-on-year, euro zone GDP fell 0.6% compared to a year earlier, in line with expectations.

Following the release of that data, the euro was lower against the U.S. dollar, with EUR/USD easing down 0.09% to trade at 1.3070.

Meanwhile, European stock markets were little changed. The EURO STOXX 50 eased up 0.05%, France's CAC 40 was flat, Germany's DAX was little changed, while London's FTSE 100 gained 0.25%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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