The Wall Street JournalThe Wall Street Journal

Eurozone’s economy outpaced China and U.S. in 2022

By Paul Hannon

31 Jan 2023 · 4 min read

The last time that the national economies making up the eurozone grew faster than China or the U.S. was in 1974, reports The WSJ. Why was this time around different? It was "just a weird, weird year."

Curated by informed

The eurozone economy grew faster than China and the U.S. last year, underlining how the fading Covid-19 pandemic continues to scramble traditional patterns of global growth.

Figures released by the European Union’s statistics agency Tuesday showed the currency- area’s economy grew at an annualized rate of 0.5% as higher energy costs weighed on household spending. This translated into 3.5% growth in gross domestic product for 2022 as a whole, a faster rate than seen in either China or the U.S.

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