Domestic demand remained the main driver of economic growth in the third quarter, confirming the sustained nature of economic expansion in the euro area. The latest information on economic activity from various confidence surveys and indicator-based estimates supports the assessment that economic growth has continued into the fourth quarter of this year, though probably at a more moderate pace than in the third quarter.
There was, and is, a risk that fragmentation in the provision of financial services in the EU will increase. However, there is an opportunity that can be taken to mitigate this risk and indeed reduce fragmentation, completing capital markets union (CMU).