GDP slightly up for the fourth quarter in Euro Area

Preliminary estimates for the fourth quarter of 2022 GDP in the Euro Area, is up by 0.1% and stable for the EU (vs the previous quarter). Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.9% for Euro Area and +1.8% for EU respectively.

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

Of those Member States with available data for Q4 2022, Ireland saw the largest quarter-over-quarter increase at 3.5%, followed by Latvia at 0.3%. Spain and Portugal succeeded Latvia with a 0.2% increase. The largest decreases were seen in Lithuania at -1.7% and in Austria & Sweden at -0.7% and -0.6% respectively. All countries except Sweden and Lithuania had positive year-over-year growth rates.

Read the Eurostat’s Press Release here.