- GDP expands by 0.1% in Q4
- 2023 growth set to be weak
- Inflation, energy prices squeezing incomes
- ECB rate hikes showing impact
FRANKFURT, Jan 31 (Reuters) – The euro zone eked out growth in the final three months of 2022, managing to avoid a recession even as sky-high energy costs, waning confidence and rising interest rates took a heavy toll on the currency bloc’s economy.
Gross domestic product in the euro zone expanded by a tiny 0.1% in the fourth quarter, data from Eurostat showed on Tuesday, outperforming expectations in a Reuters poll for a 0.1% drop. Compared to a year earlier, growth was 1.9%, just beating expectations of 1.8%.
Among the biggest euro zone countries, Germany and Italy recorded negative growth rates for the quarter but France and Spain expanded, Eurostat added, based on a flash estimate that is subject to revisions.
Russia’s nearly year-old war in Ukraine has proved costly for the euro zone, which now spans 350…
