In the third quarter of 2022, GDP had grown by 0.3 per cent in both the euro area and the EU.

EU’s seasonally adjusted GDP remained stable in Q4 2022, while euro area’s GDP rose by 0.1 per cent, compared with Q3 2022, according to a flash estimate by Eurostat. GDP increased by 3.6 per cent in the EU and by 3.5 per cent in the euro area as per the first estimation of annual growth for 2022, based on seasonally and calendar adjusted quarterly data.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.8 per cent in the EU and by 1.9 per cent in the euro area in Q4 2022, after growing 2.5 per cent in the EU and 2.3 per cent in the euro area in the previous quarter, as per Eurostat.

During the fourth quarter of 2022, GDP in the US increased by 0.7 per cent compared to the previous quarter (after growing 0.8 per cent in Q3 2022). Compared with Q3 2021, GDP increased by 1 per cent (after growing 1.9 per cent in the previous quarter).

Meanwhile, the number of employed persons increased by 0.4 per cent both in the euro area and in the EU in Q4 2022, compared with the previous quarter. In Q3 2022, employment had increased by 0.2 per cent in the EU and by 0.3 per cent in the euro area.

As compared to the same quarter of the previous year, employment increased by 1.3 per cent in the EU and by 1.5 per cent in the euro area in the fourth quarter of 2022, after increasing 1.5 per cent in the EU and 1.8 per cent in the euro area in Q3 2022.

According to a first estimation of annual growth for 2022, based on quarterly data, employment increased by 2.2 per cent in the euro area and by 2 per cent in the EU.

Fibre2Fashion News Desk (DP)