Euro area's GDP grows 1.9% YoY in Q4 2022: Eurostat

In the third quarter of 2022, euro area’s GDP had increased by 2.3 per cent YoY and the EU’s GDP had increased by 2.5 per cent YoY.

Seasonally adjusted GDP in Q4 2022 increased by 0.1 per cent in the euro area and remained stable in the EU, compared with the previous quarter. In the third quarter of 2022, GDP had grown by 0.3 per cent quarter-on-quarter (QoQ) in both the euro area and in the EU, as per Eurostat.

According to a first estimation of annual growth for 2022, based on seasonally and calendar adjusted quarterly data, GDP increased by 3.5 per cent in the euro area and by 3.6 per cent in the EU.

Among the member states for which data are available for the fourth quarter of 2022, Ireland (3.5 per cent) recorded the highest increase compared to the previous quarter, followed by Latvia (0.3 per cent), Spain, and Portugal (both 0.2 per cent). The highest declines were recorded in Lithuania (minus 1.7 per cent) as well as in Austria (minus 0.7 per cent) and Sweden (minus 0.6 per cent). The YoY growth rates were positive for all countries except for Sweden (minus 0.6 per cent) and Lithuania (minus 0.4 per cent).

ALCHEMPro News Desk (DP)