The euro area avoids economic downturn | Finance

Euro symbol in front of the European Central Bank (ECB) headquarters in Frankfurt am Main, Germany. (Photo: AFP/VNA)

Eurostat statistics agency of the European Union (EU) on January 31 published official figures showing that the economy of the euro area uses the common currency (European currency).Eurozone) avoided a downturn this winter, after recording 0.1% growth in the fourth quarter of 2022.

The above figure is lower than the growth rate of 0.3% in the third quarter but is more positive than the negative growth forecast that economists gave earlier in the context of the impact from the economic crisis. conflict in Ukraine cause energy prices escalate and inflationary continuously recorded record highs.

According to Eurostat, growth in the Eurozone in 2022 will reach 3.5%, higher than China’s 3% and 2.1% in the US.

Growth for all 27 EU member states, including some in the Eurozone, is 3.6% for all of 2022.

[IMF tăng dự báo tăng trưởng kinh tế toàn cầu năm 2023 lên mức 2,9%]

The International Monetary Fund (IMF) said on January 30 that Germany and Italy will avoid falling into a recession this year, as European growth is “better-than-expected” despite the conflict.

However, official data in Germany showed that Europe’s largest economy in the fourth quarter of 2022 unexpectedly contracted by 0.2% compared to the third quarter.

Italy’s economy also contracted 0.1%, while France recorded growth of 0.1%.

The IMF forecasts that the Eurozone will grow by 0.7% in 2023.

Bich Lien (VNA/Vietnam+)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.