Eurozone in a Technical Recession

In the first quarter of 2023, the eurozone entered a technical recession. In fact, for two quarters in a row, the eurozone countries experienced a 0.1% decline in GDP. On the other hand, at the EU level, the growth was 0.1%.

This was announced today by Eurostat, which revised downward its previous estimates that projected +0.1% for the eurozone and +0.2% for the EU zone. There are measures waiting to be taken by central banks, but at this point, stock markets do not appear to be suffering.

The best figures recorded in the quarter were for Poland (+3.8%) and Luxembourg (+2%); Italy showed an increase of 0.6% (+1.9% compared to the same quarter in 2022). Ireland and Lithuania have the worst figures (-4.65 and -2.1% respectively). A negative indicator is also recorded in Germany (-0.3%).