The European Union’s statistics office, Eurostat, said that the eurozone did not record any economic growth on a quarterly basis in the last three months of 2022, in a slight downward revision of GDP and employment data, yet employment data remained strong.
Eurostat said in a statement that the growth of the eurozone economy fell to zero in the fourth quarter compared to the third quarter and 1.8% on an annual basis, compared to expectations for growth of 0.1% and 1.9%, respectively, published on February 14.
Karina Kamel, Al-Arabiya’s correspondent from London, said that the Eurozone’s GDP data was a negative surprise, after initial expectations for growth in the fourth quarter of 2022 were 0.1%.
Kamel stated that these “worrying data” in light of the lack of growth, and the approaching recession.
