According to the preliminary report released by Eurostat on Tuesday, the Eurozone's GDP grew by 0.1% in the three months leading up to December 2022, beating the 0.3% third-quarter growth rate and the predicted 0% growth.
Annualized GDP growth for the bloc was 1.9% in Q4 compared to 2.3% booked in the third quarter of 2022 and was in line with predictions of 1.8%.
Market response
The price of EUR/USD was last spotted at 1.0828, down 0.15% for the day. The euro's recovery was stopped at 1.0835 because it was unable to take advantage of the positive Eurozone GDP statistics.
Preliminary GDP for the Eurozone
A measure of the entire value of all products and services generated by the Eurozone is the Gross Domestic Product, which Eurostat recently published.The GDP is regarded as a comprehensive indicator of the economic activity and health of the Eurozone. The EUR typically benefits from rising trends while suffering from decreasing ones (or bearish).
Annualized GDP growth for the bloc was 1.9% in Q4 compared to 2.3% booked in the third quarter of 2022 and was in line with predictions of 1.8%.
Market response
The price of EUR/USD was last spotted at 1.0828, down 0.15% for the day. The euro's recovery was stopped at 1.0835 because it was unable to take advantage of the positive Eurozone GDP statistics.
Preliminary GDP for the Eurozone
A measure of the entire value of all products and services generated by the Eurozone is the Gross Domestic Product, which Eurostat recently published.The GDP is regarded as a comprehensive indicator of the economic activity and health of the Eurozone. The EUR typically benefits from rising trends while suffering from decreasing ones (or bearish).
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