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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

October 31, 2023

In the preliminary flash GDP estimate for Q3 2023, Eurostat estimates the seasonally adjusted annualized growth rate for real GDP was up 0.3% in the European Union (EU27) and down 0.4% for the Euro Area (EA20, a subset of the EU27 nations). Compared to the previous quarter, growth was faster in EU27 (0.1% in Q2 2023) and declined in EA20 (0.6% in Q2 2023).

Among the Member States for which data are available for the third quarter of 2023, Latvia, Belgium, and Spain recorded the highest increases compared to the previous quarter. The largest declines were reported in Ireland, Austria, and Czechia.

Both the European Union and the Euro Area economies were 0.1% larger compared to the third quarter of 2022. 


Source: Eurostat

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