Ireland’s worse than expected GDP stats help push eurozone into negative growth

While early figures showed Ireland’s GDP expanded by 3.5 per cent at the end of the year, this was later revised down to just 0.3 per cent

Germany’s economy shrank, while Ireland’s rose by significantly less than initially reported. Picture: Getty

The euro-area economy failed to expand at the end of 2022 as worse than expected performances in Germany and Ireland helped pull down initial growth readings.

Gross domestic product (GDP) was unchanged from the previous quarter during the final three months of last year — worse than the preliminary estimate for a 0.1 per cent advance — data released today by Eurostat showed.

While household expenditure and investment declined, government spending and trade helped offset ...