The European Statistical Office (Eurostat) has published the main data on the growth rates of the last quarter of the European Union (EU) and the Eurozone for 2022.

Consequently, the seasonally adjusted Gross Domestic Product (GDP) in the 19-member euro zone rose 0.1 percent in the fourth quarter of last year compared with the previous quarter.

Expectations were for a 0.1 percent decline in GDP. Thus, the growth of the Eurozone exceeded market expectations.

In the euro area, GDP increased by 1.9 percent in the last quarter of 2022 compared to the same period in 2021.

Seasonally adjusted EU GDP was unchanged in the fourth quarter of 2022 compared to the previous quarter, but increased by 1.8% compared to the same period of the previous year.

THE EURO REGION GROWED 3.5 PERCENT IN 2022

On the other hand, in 2022, the eurozone economy grew by 3.5% and the EU economy by 3.6% per year.

Compared to the previous quarter, GDP decreased by 1.7% in Lithuania, 0.7% in Austria, 0.6% in Sweden, 0.3% in the Czech Republic, 0.2% in Germany and Italy in the last quarter compared to the previous quarter. 0.1 percent, increased 0.1 percent in France and 0.2 percent in Spain.

On an annual basis, GDP declined 0.6 percent in Sweden and 0.4 percent in Lithuania, while 0.5 percent in France, 1.1 percent in Germany, 1.7 percent in Italy and 0.4 percent in Spain. (AA)