Eurozone gross domestic product (GDP) avoids technical recession
Eurozone gross domestic product (GDP) finally avoided entering a technical recession, which involves two consecutive quarters of falling activity, after the economy stagnated in the fourth quarter, following the contraction of 0.1% of the previous three months, as confirmed by Eurostat [[1]](https://202-20-216-01.folio.uoc.edu/author/asarles/).
Economic growth in the European Union
In the European Union as a whole, activity registered an advance of 0.1% in the fourth quarter, a tenth more than initially expected, after the contraction of 0.1% in the third quarter. Compared to the fourth quarter of 2022, the GDP of the Eurozone grew by 0.1%, while that of the Twenty-Seven advanced by 0.3% [[1]](https://202-20-216 -01.folio.uoc.edu/author/asarles/).
Growth in EU countries
Among EU countries for which data were available, the fastest growth rate in the fourth quarter was in Slovenia (+1.1%), ahead of Cyprus and Portugal (+0.8% both) ), while the worst evolution was observed in Ireland (-0.7%), Estonia, Finland and Romania (-0.4% each) [[1]](https://202-20-216- 01.folio.uoc.edu/author/asarles/).
Growth of the major EU economies
In the case of the major EU economies, Germany registered a contraction of 0.3% in the fourth quarter, after stagnating between July and September, while France repeated the paralysis of the previous three months, and Italy accelerated its expansion to 0.2% from 0.1% in the third quarter. Spain, with an expansion of 0.6% from 0.4%, was again the large economy with the best evolution
Economic growth outside Europe
Outside of Europe, on the other side of the Atlantic, the GDP of the United States recorded an expansion of 0.8% in the fourth quarter of the year, four tenths of the growth in 1 .2% of the third quarter
Economic growth in 2023
In this way, according to the second estimate of annual growth for 2023, the GDP of the euro zone and of the EU as a whole increased by 0.5%, when in 2022 it had grown by 3.5% in the case of bloc of the euro and 3.4% in that of the Twenty-seven. In the case of the large economies of the euro zone, Spain stood out with an average growth in 2023 of 2.5%, while the economy of France expanded by 0.9% and that of Italy by 0, 7% In the case of Germany, the GDP of Europe’s largest economy registered a contraction of 0.3%. In 2023 as a whole, the United States recorded growth of 2.5% [[1]](https://202-20-216-01.folio.uoc.edu/author/asarles/).
