Quarterly growth of the EU economy has stalled

In the fourth quarter of 2022, GDP growth in the EU countries stopped – its dynamics amounted to 0.0%, which is the lowest figure since the beginning of 2021, follows from Eurostat data published on Tuesday. GDP growth rates were slowing down throughout last year – in the first quarter the dynamics was 0.8%, in the second quarter – 0.7%, and already in the third quarter it was 0.3%. The quarterly dynamics of the GDP of the eurozone countries has so far remained above zero – 0.1% in the fourth quarter.

The annual growth rates of the economies of European countries remain positive: according to the results of the 4th quarter of 2022, the EU GDP grew by 1.8% compared to the same period in 2021, in the 3rd quarter the growth was 2.5%, in the 2nd quarter – 4.4 %, in the I quarter – 5.6%. Eurozone GDP grew by 1.9% in the 4th quarter of 2022 yoy after 2.3% in the 3rd quarter, by 4.3% in the 2nd quarter, by 5.5% in the 1st quarter.