Malta registered the second best economic performance among the 17 eurozone member states, according to statistics issued by Eurostat and the National Statistics Office yesterday.

Giving a breakdown of Malta’s economic performance between July and September 2012, the NSO said Gross Domestic Pro-duct increased by more than €1,800 million or 1.9 per cent over the previous quarter.

According to Eurostat, Malta’s performance during the summer months was only surpassed by Estonia (3.4 per cent), while on average, the euro area’s eco-nomy contracted by 0.6 per cent.

Addressing a news conference, Finance Minister Tonio Fenech said the results show Malta is managing to continue to stimulate its economy, with economic growth registered among the main economic sectors, including retail and wholesale, financial services, manufacturing, tourism and real estate.

“Once again, our economic performance is proving we are on the right course and we are managing to sail through the rough international economic climate relatively well,” he said.

“At the same time, Labour’s doom and gloom is once again proved wrong,” he said.

On a country-to-country level, Germany, the EU’s economic motor, registered growth of 0.9 per cent, while France’s growth was just 0.1 per cent.

Other large economies performed badly, such as Spain (-1.6), Italy (-2.4) and the Netherlands (-1.4). Outside the eurozone the UK registered a contraction of -0.1 per cent.

According to the NSO, total final consumption expenditure in nominal terms increased by 3.9 per cent, with both exports and imports increasing.

Compared to the correspond-ing quarter last year, the increase in GDP at current prices amounted to €74.6 million, and is estimated to have been distributed into a €38.6 million increase in compensation of employees, a €41.9 million increase in gross operating surplus of enterprises, and a €5.9 million decrease in net taxation on production and imports.