The Eurozone entered a technical recession in the first quarter of 2023: GDP down by 0.1%
Contraction of the 0,1% for two consecutive quarters: the Eurozone has officially entered the technical recession. In the first quarter of 2023, according to data from Eurostatil Pil in fact it decreased by 0.1% compared to the previous quarter while it increased by 0.1% in the EU 27. According to Eurostat, in the fourth quarter of 2022 GDP had decreased by 0.1% conjunctural in the euro area and 0.2% in the EU.
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Over the year, GDP increased by 1.0% in both the euro area and the EU after respectively +1.8% and +1.7% in the EU in the previous quarter. Compared to the last three months of 2022 it is the Poland up 3.8% which recorded the largest increase in GDP, followed by Luxembourg up 2.0% and Portogallo by 1.6%. The largest decreases were observed in Ireland (4,6%), Lithuania (2,1%) e Netherlands (0,7%).
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