EU & euro area's GDP grows by 0.2% QoQ in Q3 2022: Eurostat

In the second quarter of 2022, GDP had grown by 0.8 per cent in the euro area and by 0.7 per cent in the EU. Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 2.1 per cent in the euro area and by 2.4 per cent in the EU in the third quarter of 2022, after a 4.3 per cent increase in both zones in the previous quarter.

Among the member states for which data are available for the third quarter of 2022, Sweden (+0.7 per cent) recorded the highest increase compared to the previous quarter, followed by Italy (+0.5 per cent), and Portugal and Lithuania (both +0.4 per cent). Declines were recorded in Latvia (-1.7 per cent) as well as in Austria and Belgium (both -0.1 per cent). The year-on-year growth rates were positive for all countries except for Latvia (-0.4 per cent).

ALCHEMPro News Desk (NB)