Eurozone Bip-Wachstum

The Euro Area economy stagnated in the fourth quarter of 2023, following a 0.1% contraction in the previous three-month period, as persistently high inflation, record borrowing costs, and weak external demand continued to exert downward pressure on growth. Net exports subtracted 0.3 percentage points from the GDP, with exports remaining flat (vs -1.2% in Q3) and imports increasing by 0.6% (vs -1.4%), while changes in inventories subtracted 0.1 percentage point. On the other hand, household consumption rose by a meager 0.1%, following a 0.3% increase in the previous quarter. On a brighter note, fixed investment advanced by 1.0% (vs 0.0% in Q3), and public spending expanded by 0.6% (vs 0.6% in Q3). Compared with the same quarter of the previous year, the Eurozone economy advanced by 0.1%, matching the pace of the previous period. Looking at the full year of 2023, the GDP grew by 0.4%, marking a sharp decline from a 3.4% expansion in 2022.