Euro area sees minor GDP fall, EU stable in Q3 2023

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.1 per cent both in the euro area and in the EU in Q3 2023, after 0.5 per cent in the euro area and 0.4 per cent in the EU in the previous quarter, Eurostat, the statistical office of the EU said in a press release.

During Q3 2023, GDP in the US increased by 1.2 per cent compared to the previous quarter—after 0.5 per cent in Q2 2023. Compared with the same quarter of the previous year, GDP increased by 2.9 per cent—after 2.4 per cent in the previous quarter.

The number of employed persons increased by 0.3 per cent in the euro area and by 0.2 per cent in the EU in Q3 2023, compared with the previous quarter. In Q2 2023, employment had increased by 0.1 per cent in both zones.

Compared with the same quarter of the previous year, employment increased by 1.4 per cent in the euro area and by 1.3 per cent in the EU in Q3 2023, after 1.3 per cent in the euro area and 1.1 per cent in the EU in Q2 2023.

ALCHEMPro News Desk (NB)