The Strategist

Eurozone GDP unexpectedly decreases by 0.1% in Q3

11/01/2023 - 08:55

According to the European Union's statistical office report, which included preliminary data, the GDP of the Eurozone shrank by 0.1% in the third quarter compared to the preceding three months.
The GDP of the eurozone expanded by 0.1% annualized.

According to Trading Economics, experts generally anticipated that from July to September, the GDP would expand by 0.2% annually and remain constant in quarterly terms.

Instead of the 0.1% previously reported, the revised figures revealed that the eurozone economy grew by 0.2% quarter over quarter in the April–June quarter. On an annualized basis, growth was 0.5%.

In comparison to the previous quarter, the German GDP shrank by 0.1% in the third quarter; in France, it increased by 0.1%; in Italy, it remained steady; and in Spain, it increased by 0.3%.

Preliminary data indicates that the GDP of the European Union grew by 0.1% in both quarterly and yearly terms during the most recent quarter.