According to preliminary data released by Eurostat on January 31st, adjusted for seasonality and working days, the GDP of the eurozone and the EU grew by 3.5% and 3.6%, respectively, in 2022.

    The data shows that after seasonal adjustment, the eurozone's economy grew by 0.1% quarter-on-quarter and 1.9% year-on-year in the fourth quarter of last year, while the EU's economy remained stable quarter-on-quarter but grew 1.8% year-on-year. Ireland, Latvia, Spain, and Portugal performed relatively well in the fourth quarter, with quarter-on-quarter growth rates of 3.5%, 0.3%, 0.2%, and 0.2%, respectively. However, Germany's economy performed poorly, with a quarter-on-quarter decline of 0.2%. Italy's economy declined by 0.1% quarter-on-quarter, and Lithuania experienced a larger decline, with a quarter-on-quarter decrease of 1.7%.

    Rabobank, a well-known financial institution, stated that the eurozone's economy avoided a contraction in the fourth quarter of last year, which was a "close call," as most economies are currently experiencing stagnation with near-zero growth rates. Bert Colijn, Senior Economist for the Eurozone at Rabobank, pointed out that the data shows weak domestic demand and a sharp decline in imports across several European countries, while also facing pressure to raise interest rates. This suggests that the eurozone's economy will be weak at the beginning of 2023, and the possibility of negative growth in the first quarter cannot be ruled out.