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2023.01.3109:13:00UTC+00Eurozone GDP Unexpectedly Expands In Q4

The euro area economy posted an unexpected expansion in the fourth quarter, preliminary flash estimates released by Eurostat showed on Tuesday.

Gross domestic product grew 0.1 percent sequentially after rising 0.3 percent in the third quarter. Economists had forecast the currency bloc to shrink 0.1 percent.

On a yearly basis, the economy grew at a slower pace of 1.9 percent, following third quarter's 2.3 percent growth. Nonetheless, the rate was slightly above economists' forecast of 1.8 percent.

The EU27 GDP remained unchanged on quarter and expanded 1.8 percent from the last year. According to the first estimate of annual growth for 2022, the euro area expanded 3.5 percent and the EU27 grew 3.6 percent.

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