London, Tuesday, 31 January 2023
A preliminary estimate revealed that the Eurozone economy expanded marginally by 0.1 percent in the fourth quarter of 2022, down from a 0.3 percent gain in the prior three-month period but outperforming the market consensus of a 0.1 percent contraction.
The pace of expansion was at its slowest since the first three months of 2021 as supply chain bottlenecks, high inflation, and rising borrowing costs all had an adverse effect on demand and activity.
Among the largest economies in the bloc, Spain's GDP increased by 0.2% (the same as in Q3) and France's by 0.1% compared to 0.2%, but Germany's GDP shrank by 0.2% compared to 0.5% and Italy's shrank by 0.1% compared to 0.5%. (-0.1 percent vs 0.5 percent).
Source: EUROSTAT 