Eurozone’s Economy Outpaced China and U.S. in 2022

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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.