Daily Management Review

Eurozone GDP unchanged in Q4, up 0.4% in 2023


Official figures from the European Union's statistics agency (Eurostat) show that the GDP of the Eurozone remained constant in the fourth quarter of 2023 compared to the preceding three months.

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Public Domain Pictures
The economy expanded by 0.1% annually.

Both indicators matched the previously released data and a poll of analysts by Trading Economics polled. In contrast, the GDP of the eurozone expanded by 0.1% annually in the third quarter but decreased by 0.1% on a quarterly basis.

Throughout the quarter ending in December, consumer expenditure increased by 0.1%, government spending increased by 0.6%, and business investment increased by 1%. While imports rose by 0.6%, the number of exports stayed the same.

The final Eurostat figures for 2023 show that the eurozone economy increased by 0.4% overall. As a result, the rate of recovery fell sharply from 3.4% in 2022.

The fourth quarter GDP of the European Union increased by 0.2% on an annualized basis, but remained unchanged from the preceding three months. The EU economy grew by 0.4% in 2023, following a 3.4% gain in the previous year; in other words, changes in the GDP of the euro area were reflected in the dynamics of both measures.

source: tradingeconomics.com