16 Nov 23 2 min read
Insights
- In the third quarter of 2023, the euro area's GDP declined by *.* per cent, contrasting with the EU's stable GDP.
- Employment trends were positive in both the euro area and the EU, with a *.* per cent and *.* per cent rise, respectively.
- Year-over-year, employment in these regions showed an accelerated growth compared to the previous quarter.
Year-over-year comparisons reveal a marginal increase of *.* per cent in seasonally adjusted GDP for both the euro area and the EU in Q* ****. This growth, however, is a slowdown from the *.* per cent and *.* per cent increases seen in the euro area and the EU, respectively, in the previous quarter.
In a stark contrast to the European trend, the US’ economy demonstrated more robust growth. The US GDP increased by *.* per cent compared to the previous quarter, a significant rise from the *.* per cent growth seen in the second quarter of ****. On a year-over-year basis, the US economy grew by *.* per cent in Q* ****, accelerating from a *.* per cent increase in the previous quarter, as per Eurostat.
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