In the euro area, seasonally adjusted GDP rose by 0.1% in the fourth quarter of 2022 and the annual growth rate was 3.5% for the whole of last year, according to the preliminary estimate published by the Statistical Office of the European Union (Eurostat) on Tuesday 31 January.
In the EU, GDP remained stable in the fourth quarter of last year and the annual growth rate increased by 3.6% over the year 2022.
Among the twelve Member States for which data are available, Ireland (+3.5%) recorded the highest increase in Q4 2022 compared with the previous quarter, followed by Latvia (+0.3%), Spain and Portugal (both +0.2%). The largest decreases were registered in Lithuania (-1.7%), Austria (-0.7%) and Sweden (-0.6%). GDP fell slightly in Germany (-0.2%) and Italy (-0.1%), while it rose slightly in France (+0.1%) and Spain (+0.2%).
Commenting on the figures, EU Commissioner for Economy Paolo Gentiloni described via Twitter as “good news” the fact that the euro area avoided a contraction in GDP in the last quarter of 2022. “We continue to face multiple challenges but the outlook for this year looks a little brighter today than in the autumn”, he added. He will present the Commission’s winter economic forecast on Thursday 9 or Friday 10 February. (Original version in French by Mathieu Bion)