The Eurozone economy stalled, on a quarterly basis, in the three months to December of 2023, meeting the 0% estimates while confirming the preliminary reading of 0%, the second estimate published by Eurostat showed on Wednesday.

The bloc’s GDP rate climbed 0.1% YoY in Q4 vs. 0.1% recorded in Q3 and 0.1% expected.

Separately, the fourth quarter Preliminary Employment Change data for the old continent came in at 0.3% and 1.3% on a quarterly and yearly basis respectively.

Meanwhile, the Eurozone Industrial Production jumped 2.6% MoM and 1.2% YoY in December.

Market reaction

EUR/USD was last seen trading at 1.0700, down 0.09% on the day. Eurozone data have little to no impact on the Euro.

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone's economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).