The GDP of the euro zone and the Twenty-seven grew by 3.5% in the whole of 2022


The eurozone expansion came to a halt in the fourth quarter of 2022, when the region’s gross domestic product (GDP) stagnated compared to the previous three months, when growth was 0.4%, according to the latest reading. from the data published by Eurostat, which has cut its preliminary estimate by one tenth.

Likewise, the community statistical office has revised the data on the evolution of GDP for the whole of the European Union (EU) downward by one tenth, which in the fourth quarter of 2022 registered a contraction of 0.1%, after the expansion of 0.4% observed in the third quarter of last year.

Compared to the fourth quarter of 2021, the growth of the euro zone was 1.8%, while that of the whole of the Twenty-seven was 1.7%.

Thus, GDP increased by 3.5% in the euro area and in the Twenty-seven as a whole in 2022, after the annual expansion of 5.3% and 5.4%, respectively, in 2021.

By comparison, US GDP growth in 2022 was 2.1%, after posting a 0.7% expansion in the fourth quarter of last year.

Among EU countries, the highest GDP growth rates in the fourth quarter of 2022 compared to the previous three months were observed in Greece (1.4%), followed by Malta (1.2%) and Cyprus (1.4%). .1%), while the largest decreases corresponded to Poland (-2.4%), Estonia (-1.6%) and Finland (-0.6%).

In the case of Spain, GDP registered an expansion of 0.2% in the fourth quarter of 2022, which represents the best evolution among the large EU economies, since Germany and Italy registered contractions of 0.4% and 0.1%, respectively, while France’s GDP grew 0.1% quarterly.