According to Eurostat, the economy of the EU and the Eurozone escaped recession in 2022. Germany was close to sinking, but it is not excluded that this will happen in 2023, due to the dependence on China and the US and the fatal rupture of energy resources from Russia.
The National Institute of Statistics of Romania (INS) announces that the Romanian economy grew by 4.8% last year, and the Gross Domestic Product in the fourth quarter of 2022 was, in real terms, higher by 1.1% compared to the previous quarter.
On a seasonally adjusted basis, in the fourth quarter of 2022, compared to the third quarter, the Gross Domestic Product increased by 1.1%. Compared to the same quarter of 2021, GDP registered an increase of 5.0%.
On a gross basis, compared to the same quarter of 2021, the Gross Domestic Product, in the fourth quarter of 2022, registered an increase of 4.6%.
In 2022, compared to 2021, GDP increased by 4.8%, says INS.
In the states of the Eastern bloc of the EU, the situation is not as expected. The data available to Eurostat show that Czechia registered two consecutive quarters of a decrease in GDP, by 0.2% in the 3rd quarter and by 0.3% in the 4th quarter.
In Hungary, according to the hvg.hu portal, the economy entered a technical recession in the second half of 2022. GDP decreased by 0.4% in the last quarter compared to the previous quarter, according to data published by the Central Statistics Office ( KSH). In the third quarter, the GDP decreased by 0.7 percent compared to the second quarter. But thanks to the strong start to the year, GDP for the entire year 2022 increased by 4.6% compared to 2021.
In Poland, a decrease in GDP is estimated in the 4th quarter, compared to the 3rd quarter, but it managed to exceed the previous quarter by only 0.1%. According to some local comments, from the beginning of April to the end of December 2022, activity in the Polish economy fell by 3.7 percent.
“The year-on-year slowdown in GDP growth was definitely caused by a decrease in consumer demand, linked to a decrease in the purchasing power of household incomes. … economists polled by “Rzeczpospolita.pl” (estimated on average that consumption fell by 1.5 percent year-on-year after a 0.9 percent increase in the third quarter.”
The Romanian economy is doing well, GDP increased by 4.8% in 2022 compared to 2021. Technical recession in the Czechia, Hungary, disappointment in Poland