European economic figures for the end of 2022 are worse than expected. The eurozone economy did not grow in the fourth quarter compared to the previous three months.
Earlier, statistics agency Eurostat reported a growth of 0.1 percent. And throughout the EU there was contraction instead of stagnation, SIA refers to foreign media.
Partly because consumer spending has fallen due to high inflation, the figure for the euro countries appears to be weaker than expected. For example, the contraction in Germany, Europe’s largest economy, was greater than previously reported.
The German economy contracted by 0.4 percent, while Eurostat had previously reported a decline of 0.2 percent. In the Netherlands there was 0.6 percent economic growth and in countries such as Belgium, France and Spain the economy also grew in the last quarter. In Italy there was a contraction of 0.1 percent.
Eurostat now reports a contraction of 0.1 percent for the entire European Union. The statistics office previously assumed stagnation: no growth, but no contraction either.
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