Eurozone Preliminary GDP rises 0.1% QoQ in Q4 vs. 0% expected

Dhwani Mehta FXStreet

The Eurozone economy expanded by 0.1% in the quarter in the three months to December of 2022, meeting the 0% expected and 0.3% registered in the third quarter, the preliminary release published by Eurostat revealed on Tuesday.

On an annualized basis, the bloc’s GDP rate grew by 1.9% in Q4 vs. 2.3% booked in the third quarter of 2022 while matching 1.8% expectations.

Market reaction

EUR/USD was last seen trading at 1.0828, down 0.15% on the day. The euro failed to capitalize on the upbeat Eurozone GDP data, pausing its rebound at 1.0835.

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.

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