Euro zone Q4 GDP confirmed flat on a quarterly basis

February 16, 2024

Euro zone economic growth was flat in the last three months of the 2023 against the previous quarter and up 0.1% against the same time in 2022, Eurostat said today, confirming its earlier preliminary estimate.

After euro zone output contracted 0.1% quarter-on-quarter in the third quarter, the result for the last three months is a narrow escape from a technical recession, defined as two consecutive quarters of negative growth.

The biggest economy Germany still contracted 0.3% quarter on quarter, second biggest France was flat and third biggest Italy grew 0.2% while the output of fourth biggest Spain jumped 0.6%.

Meanwhile, euro zone employment rose by 0.3% on a quarterly basis and by 1.3% year-on-year in the fourth quarter, according to a flash estimate published by the European Union statistics office today.

According to a Reuters poll, the employment had been expected to rise 0.2% quarter-on-quarter and 1.1% year-on-year.

Article Source – Euro zone Q4 GDP confirmed flat on a quarterly basis – RTE

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