LONODN (Reuters) - The European Union (EU) economy showed zero growth in the fourth quarter last year (Q4 2022), avoiding a contraction despite exceptional adverse shocks, according to Eurostat.
In the same quarter, bankruptcy declarations in the EU continued to accelerate, rising above pre-pandemic levels. EU industrial production and retail trade fell in December, remaining, however, above its pre-pandemic level.
In contrast, the EU labour market continued to perform strongly in December, with the unemployment rate remaining stable, below its pre-pandemic level, Eurostat, which recently released the February edition of the interactive European Statistical Recovery Dashboard, said.
EU electricity consumption was 9 per cent lower in November 2022, compared to the lowest value for the corresponding month in the period 2016-2019.