|2023/02/10 / Ceska Sporitelna Research|
EU News Monthly February 2023
According to a first estimation of annual growth for 2022, based on seasonally and calendar adjusted quarterly data, GDP increased by 3.6% in the EU.In the fourth quarter of 2022, seasonally adjusted GDP remained stable in the EU, compared with the previous quarter. In the third quarter of 2022, GDP had grown by 0.3% in the EU.
Sales of new passenger cars in the EU fell by 4.6% to 9.3 million vehicles in 2022, the lowest since 1993. In 2019, sales reached 13 million vehicles. The main reason was the lack of components in the first half of the year; from August to December the market already showed growth.
This year, the EU celebrates the 30th anniversary of its Single Market – one of the major achievements of European integration, and one of its key drivers. Established on 1 January 1993, the European Single Market allows goods, services, people and capital to move around the EU freely, making life easier for people and opening up new opportunities for businesses.
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|Author||Ceska Sporitelna Research|
|Product name||EU News Monthly|
|Topic in focus||FX, Macro/ Fixed income|
|Economy in focus||Czech Republic|
|Currency in focus||Czech Koruna|
|Sector in focus||-|
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