The Gross Domestic Product (GDP) rose 0,5% in the euro zone and in the European Union (EU) in 2023 as a whole, Eurostat confirmed this Wednesday, February 14, indicating that the Portuguese economy had the second best performance in the last quarter of the year.
Data released today by the community statistical office reveal that, «according to a first estimate of annual growth for 2023, based on quarterly data adjusted for seasonality and calendar effects, GDP increased by 0,5% in both the euro area and the HUH".
Only focusing on the last three months of the year, Eurostat points out that, in this period compared to the same quarter of the previous year, seasonally adjusted GDP increased by 0,1% in the euro zone and 0,3% in the EU, after having stabilized in both zones in the previous quarter.
In terms of chain variation, in the fourth quarter of 2023, seasonally adjusted GDP stabilized in the single currency area and increased by 0,1% in the EU, compared to the previous quarter.
Previously, in the third quarter of 2023, GDP recorded a decline of 0,1% in both areas in this chain variation.
By countries, the Portuguese economy was the one that showed the biggest year-on-year increase (2,2%), behind that of Cyprus (2,3%), with these two countries registering the same improvement in chain (0,8%) , according to Eurostat.
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