A quarter of the EU states have entered the antechamber of technical recession. In Q3 2022, Romania registers a GDP growth of 4.7%, after Cyprus, Portugal and ahead of all countries on the eastern flank

By RBJ
Eurostat’s flash data for the 3rd quarter show that most EU states are registering a strong slowdown in economic growth.
Seasonally adjusted GDP increased by 0.2% both in the euro area and in the EU, compared with the previous quarter, according to a flash estimate published by Eurostat. In the second quarter of 2022, GDP had grown by 0.8% in the euro area and by 0.7% in the EU.
Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 2.1% in the euro
area and by 2.4% in the EU in the third quarter of 2022, after +4.3% in both the euro area and in the EU in the previous quarter.
During the third quarter of 2022, GDP in the United States increased by 0.6% compared to the previous quarter
(after -0.1% in the second quarter of 2022).
Romania registered the highest quarterly growth, of 1.3%, equal to Cyprus.
On the eastern flank, most states had negative increases in Q3/Q2, respectively: Bulgaria (-0.1), Czechia (-0.4%), Latvia (-1.7%), Hungary (-0.4% ), Austria (-0.1%), Slovenia (-1.4%).
Compared to the third quarter of 2021, gross domestic product rose by 2.1% in the euro area and by 2.4% in the EU, following annual increases of 4.3% for both regions in the previous three months. The highest annual increases were recorded in Cyprus (+5.4%), Portugal (+4.9%), and Romania (+4.7%), and the lowest in France (+1%), Germany ( +1.1%), and Slovakia (+1.2%).