GDP up by 0.1% and employment up by 0.4% in the euro area

February 16, 2033

GDP and employment flash estimates for the fourth quarter of 2022

GDP growth in the euro area and EU

In the fourth quarter of 2022, seasonally adjusted GDP increased by 0.1% in the euro area and remained stable in the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2022, GDP had grown by 0.3% in both the euro area and the EU.

According to a first estimation of annual growth for 2022, based on seasonally and calendar adjusted quarterly data, GDP increased by 3.5% in the euro area and by 3.6% in the EU.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 1.9% in the euro area and by 1.8% in the EU in the fourth quarter of 2022, after +2.3% in the euro area and +2.5% in the EU in the previous quarter

During the fourth quarter of 2022, GDP in the United States increased by 0.7% compared to the previous quarter (after +0.8% in the third quarter of 2022). Compared with the same quarter of the previous year, GDP increased by 1.0% (after +1.9% in the previous quarter).

Employment growth in the euro area and EU

The number of employed persons increased by 0.4% both in the euro area and in the EU in the fourth quarter of 2022, compared with the previous quarter. In the third quarter of 2022, employment had increased by 0.3% in the euro area and by 0.2% in the EU

Compared with the same quarter of the previous year, employment increased by 1.5% in the euro area and by 1.3% in the EU in the fourth quarter of 2022, after +1.8% in the euro area and +1.5% in the EU in the third quarter of 2022.

According to a first estimation of annual growth for 2022, based on quarterly data, employment increased by 2.2% in the euro area and by 2.0% in the EU. These data provide a picture of labour input consistent with the output and income measures of national accounts.

Source: Eurostat
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