The Eurozone entered a technical recession in the first quarter of 2023. GDP in the 20 Eurozone countries decreased by 0.1% compared to the previous quarter.
In the EU as a whole, however, there was an increase of 0. 1%. The largest increases were observed in Poland (+3.8%) and Luxembourg (+2%). Italy recorded growth of 0,6%. For Germany, on the other hand, -0.3%. This was announced by Eurostat, revising downwards its previous estimates.