Eurozone GDP in the fourth quarter of 2023 was unchanged from the previous three months, according to final data from the European Union’s statistics office (Eurostat).
In annual terms, the eurozone economy grew by 0.1%.
The dynamics of both indicators coincided with the previously announced data and expectations of experts surveyed by Trading Economics. For comparison, in the third quarter, the eurozone GDP declined by 0.1% quarter-on-quarter and grew by 0.1% in annual terms.
Consumer spending in October-December rose 0.1% quarter-on-quarter, government spending rose 0.6% and business investment rose 1%. The volume of exports remained unchanged, imports – increased by 0.6%.
The eurozone economy grew by 0.4% for the whole of 2023, according to the final Eurostat data. Thus, the rate of upturn slowed significantly from 3.4% in 2022.
The European Union’s GDP in the fourth quarter was unchanged from the previous three months and grew by 0.2% in annualized terms. At the same time, the volume of the EU economy for 2023 increased by 0.4% after an increase of 3.4% a year earlier (i.e. the dynamics of both indicators coincided with changes in GDP of the euro area).
Earlier, the information and analytical center Experts Club detailed the macroeconomic situation in Ukraine and in the world – as follows
