Eurozone economy grows 3.5% in 2022

The gross domestic product in 2022 increased 3.5% both in the euro area and the EU, according to an estimate released on Wednesday.

The growth slowed after the eurozone economy expanded 5.3% and the EU economy grew 5.4% in 2021, Eurostat data showed.

In the fourth quarter of last year, the euro area economy stagnated compared to the previous three-month period, while the previous two estimates were a 0.1% hike each.

The EU economy, meanwhile, narrowed 0.1% in the October-December period of last year.

In the third quarter of 2022, GDP grew 0.4% both in the euro area and the EU.

On an annual basis, GDP rose 1.8% in eurozone and 1.7% in the EU in the fourth quarter of last year.

Greece recorded the highest growth compared to the previous quarter with 1.4%, while Poland's economy narrowed the most, 2.4%.

Source: Anadolu Agency