According to Eurostat’s flash estimate, real GDP increased by 0.3% in the third quarter with respect to the second quarter, (as was the case in the previous quarter). This has been accompanied by increases in the flash composite output PMI in October, with respect to September, as well as a rise in consumer confidence.
It has enhanced price transparency, increased trade, and promoted economic and financial integration within the euro area and with the rest of the world. In recent months we have seen another benefit of the euro: the financial crisis is demonstrating that in turbulent financial waters it is better to be on a large, solid and steady ship rather than on a small vessel.