In Q4 2023, seasonally adjusted GDP remained stable in both the euro area and the EU, compared with the previous quarter, with Romania ranking among the member countries with the strongest quarterly economic contractions, according to an estimate published on Friday by Eurostat, the statistical office of the European Union.
Denmark (+2.0%) recorded the highest increase of GDP compared to the previous quarter, followed by Croatia (+1.3%) and Slovenia (+1.1%). The highest decreases were reported in Ireland (-3.4%), followed by Estonia, Finland (both -0.7%) and Romania (-0.5%).
In Romania’s case, the contraction of 0.5% in Q4 2023 comes after an advance of 1% in Q3, as well as an advance of 1.4% in Q2.
Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.1% in the euro area and by 0.2% in the EU in Q4 2023, after +0.1% in both zones in the previous quarter.
Romania’s economy grew by 1.1% at an annual pace in the last three months of 2023, a significant slowdown after a 3.5% advance recorded in Q3.
Also on Friday, Eurostat announced that the number of…
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