The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
March 11, 2024EU AND EURO AREA GDP, Q4 2023 (REVISED) 
In the final GDP estimate for Q4 2023, Eurostat estimates the seasonally adjusted annualized growth rate for real GDP was up 0.0% in the European Union (EU27) and down 0.2% for the Euro Area (EA20, a subset of the EU27 nations). Growth slowed from the previous quarter for the EU27 (+0.1% in Q3 2023) but was the same to the EA20 (-0.2%) in Q3 2023).
Among the Member States for which data are available for the fourth quarter of 2023, Denmark recorded the highest increase of GDP compared to the previous quarter, followed by Croatia and Slovenia. The larges declines were in Ireland, Estonia and Finland.
The European Union economy was 0.2% larger compared to the fourth quarter of 2022, and the Euro Area economy was 0.1% larger than Q4 2022.
In Q4 2023 compared to Q4 2022, growth in real GDP in Euro Area is attributed to growth in investment, household and government spending.
EU growth over the past year was due to rising investment, government spending and household spending, while exports declied at a rate smaller than imports.
Source: Eurostat
<--- Return to Archive
