BrusselsPreliminary data issued by the European statistics agency Eurostat on Tuesday showed a contraction in the euro zone economy during the fourth quarter of 2023.
The agency stated in a statement, “The euro zone’s gross domestic product remained unchanged during the last quarter of 2023 after declining by 0.1 percent in the third quarter of the year, compared to economists’ expectations of a decline by the same percentage in the fourth quarter.”
The GDP increased by 0.1 percent on an annual basis during the fourth quarter of 2023, compared to 2022, and compared to expectations that the GDP would record zero growth.
Preliminary estimates also showed that the euro zone’s GDP would rise by 0.5 percent during the entire year 2023.
The European Union economy recorded zero successive growth during the fourth quarter of 2023, and an increase of 0.2 percent compared to 2022. Among the European Union member states, Portugal recorded the highest quarterly growth of 0.8 percent, followed by Spain by 0.6 percent, and Ireland, Germany and Lithuania recorded. A decline in growth.
2024-01-31 23:45:14
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