Eurostat: Euro Zone’s Q4 sees muted growth

By Aya El Sayed On Feb 14, 2024

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, July 14, 2021. Credit: REUTERS.

Euro zone economic growth remained stagnant in Q4 2023 compared to the preceding quarter with a slight increase of 0.1 per cent compared to the same timeframe in 2022, as confirmed by Eurostat on Wednesday, according to Reuters.

This comes after a 0.1 per cent decrease in output in the third quarter, meaning the Euro zone narrowly dodged a technical recession, which is defined as two successive quarters of negative growth.

Germany, the largest economy, saw a contraction of 0.3 per cent quarter-on-quarter; France, the second largest, experienced no growth; Italy, the third largest, grew by 0.2 per cent, and Spain, the fourth-largest economy, witnessed a significant 0.6 per cent jump in output.