Euro Zone May Dodge Recession After Surprise Growth
- Data follow Monday’s news of contraction in German output
- France notched unexpected GDP expansion while Italy shrank
Jan. 30: ECB Won't Waver on Rate Hikes, Jim Bianco Says
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The euro area is on course to avoid a recession after unexpectedly growing at the end of 2022, despite double-digit inflation and Russia’s invasion of Ukraine.
Gross domestic product edged up by 0.1% in the final quarter, Eurostat said Tuesday, defying economist estimates for a contraction of 0.1%. While German and Italian output shrank, France and Spain recorded expansion. There was also stronger-than-anticipated data on Monday from Ireland.