Business Standard

Euro zone economy unexpectedly grows in Q4 but weak 2023 looms

France registers unexpected GDP expansion while Italy shrinks

European Union

The ECB has raised rates by a combined 2.5 percentage points to 2 per cent since July to tame inflation

Reuters Frankfurt
The eurozone eked out growth in the final three months of 2022, managing to avoid a recession even as sky-high energy costs, waning confidence, and rising interest rates took a toll on the economy that is likely to persist into this year.

Gross domestic product across the currency bloc expanded by a tiny 0.1 per cent in the fourth quarter, data from Eurostat showed on Tuesday, outperforming expectations in a Reuters poll for a 0.1 per cent drop. Compared to a year earlier, growth was 1.9 per cent, just beating expectations of 1.8 per cent.

Among the biggest eurozone countries, Germany and

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First Published: Jan 31 2023 | 11:50 PM IST

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