toEurozone expansion interrupted in the fourth quarter of 2022, The region’s gross domestic product (GDP) stagnates compared to the previous three months when growth was 0.4%, according to the latest data released by Eurostat, which cut its preliminary forecast by a tenth.
In addition, the community statistics office has reviewed One-tenth of the data on GDP development for the entire European Union (EU)In the fourth quarter of 2022, after the 0.4% expansion observed in the third quarter of last year, the economy contracted by 0.1%.
Compared to the fourth quarter of 2021, The growth in the euro area was 1.8 percent, while the growth in the entire Twenty-Seven was 1.7 percent.
Like this, GDP increased by 3.5% in the euro area and group of countries Twenty seven in 2022 After annual expansion of 5.3% and 5.4% respectively in 2021.
By comparison, US GDP growth in 2022 was 2.1% after recording 0.7% growth in the fourth quarter of last year.
Among EU countries, In the fourth quarter of 2022, the highest GDP growth rates compared to the previous three months were observed in Greece (+1.4%), It is followed by Malta (+1.2%) and Cyprus (+1.1%), with the largest decreases in Poland (-2.4%), Estonia (-1.6%) and Finland (-0.1%). 6) recorded.
In the case of Spain, GDP expanded by 0.2% in the fourth quarter of 2022. Best evolution among EU’s major economies, Germany and Italy contracted 0.4% and 0.1%, respectively, while France’s GDP grew by 0.1% quarter-on-quarter.