Eurozone Preliminary GDP arrives at 0% QoQ in Q4 vs. -0.1% expected
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The Eurozone economy stagnated on a quarterly basis in the three months to December of 2023, improving from a 0.1% contraction in the third quarter of 2023, the preliminary estimate released by Eurostat showed Tuesday.
The GDP data beat the market’s expectations for a 0.1% deceleration.
The bloc’s GDP expanded at an annual pace of 0.1% in Q4 vs. 0% in Q3 while beating 0% expectations.
EUR/USD was last seen trading at 1.0823, down 0.08% on the day. Eurozone GDP data failed to move a needle around the Euro.
The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone’s economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).
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