Eurozone economy shrinks in third quarter, inflation falls further

Economic growth in the eurozone contracted in the third quarter, data showed Tuesday, hit by the European Central Bank’s painful rate-hiking campaign and Germany’s weakening economy, but inflation slowed in October.

The EU’s official data agency said the 20-country single currency zone’s economy shrank by 0.1 percent over the July-September period, after recording only 0.2 percent growth in the second quarter.

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