In the fourth quarter, the GDP of the Eurozone rose against expectations

In the third quarter of 2022, GDP had grown by 0.3% in both the euro area and in the EU. According to a first estimation of annual growth for 2022, based on seasonally and calendar adjusted quarterly data, GDP increased by 3.5% in the euro area and by 3.6% in the EU. These preliminary GDP flash estimates are based on data sources that are incomplete and subject to further revisions.

Among the Member States for which data are available for the fourth quarter of 2022, Ireland (+3.5%) recorded the highest increase compared to the previous quarter, followed by Latvia (+0.3%), Spain and Portugal (both +0.2%). The highest declines were recorded in Lithuania (-1.7%) as well as in Austria (-0.7%) and Sweden (-0.6%). The year-on-year growth rates were positive for all countries except for Sweden (-0.6%) and Lithuania (-0.4%).