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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

November 15, 2022
EU AND EURO AREA GDP, Q3 2022 (PRELIMINARY)

In the GDP preliminary estimate for Q3 2022, Eurostat estimates the seasonally adjusted annualized growth rate for real GDP was 1.0% in the European Union (EU27) and 0.8% for the Euro Area (EA19, a subset of the EU27 nations).  Both were revised up slightly from the flash estimate previously released. 

Among the Member States for which data are available for the third quarter of 2022, Romania and Cyprus recorded the highest increases compared to the previous quarter. The largest declines were reported in Latvia and Slovenia. 

The European Union economy was 2.7% larger compared to the pre-pandemic period Q4 2019, while the Euro Area economy was up 2.1% from pre-pandemic levels in Q3 2022. 

Source: Eurostat



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