Saturday. 23.09.2023

The euro area economy grew at a slower pace in the fourth quarter, a preliminary flash estimate from Eurostat showed on Monday.

Gross domestic product grew 0.3 per cent sequentially, slower than the 2.3 per cent expansion seen in the third quarter. The rate came in line with economists' expectations.

On a yearly basis, economic growth accelerated to 4.6 per cent from 3.9 per cent in the preceding quarter. But this was slightly weaker than the expected rate of 4.7 per cent.

The EU27's GDP grew 0.4 per cent quarter on quarter, taking the annual growth to 4.8 per cent in the fourth quarter.

According to the first estimate for 2021, GDP expanded 5.2 per cent in both the euro area and the EU.

Eurozone GDP growth eased in fourth quarter