Eurozone GDP confirms the first estimate of 0% QoQ in Q4
The Eurozone economy stalled, on a quarterly basis, in the three months to December of 2023, meeting the 0% estimates while confirming the preliminary reading of 0%, the second estimate published by Eurostat showed on Wednesday.
The bloc’s GDP rate climbed 0.1% YoY in Q4 vs. 0.1% recorded in Q3 and 0.1% expected.
Separately, the fourth quarter Preliminary Employment Change data for the old continent came in at 0.3% and 1.3% on a quarterly and yearly basis respectively.
Meanwhile, the Eurozone Industrial Production jumped 2.6% MoM and 1.2% YoY in December.
Market reaction
EUR/USD was last seen trading at 1.0700, down 0.09% on the day. Eurozone data have little to no impact on the Euro.
About Eurozone Preliminary GDP
The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone's economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
