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GDP down by 0.1% in the euro area and up by 0.1% in the EU

GDP
BM. GE
31.10.23 17:24
41

In the third quarter of 2023, seasonally adjusted GDP decreased by 0.1% in the euro area and increased by 0.1% in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2023, GDP had grown by 0.2% in the euro area and had remained stable in the EU.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.1% both in the euro area and in the EU in the third quarter of 2023, after +0.5% in the euro area and +0.4% in the EU in the previous quarter.

Among the Member States for which data are available for the third quarter of 2023, Latvia (+0.6%) recorded the highest increase compared to the previous quarter, followed by Belgium (+0.5%) and Spain (+0.3%). The highest declines were recorded in Ireland (-1.8%), Austria (-0.6%) and Czechia (-0.3%). The growth rates compared to the same quarter of the previous year were positive for five countries, with the highest values observed for Portugal (+1.9%), Spain (+1.8%) and Belgium (+1.5%). The highest declines were recorded for Ireland (-4.7%), Estonia (-2.5%), Austria and Sweden (-1.2% both).