Frankfurt, January 17 (QNA) - European Central Bank (ECB) official Mario Centeno said during the World Economic Forum in Davos that the eurozone economy may have performed better than expected during the fourth quarter of 2022, ending the year with positive growth.
Centeno added that the economy is uncovering surprises by every passing quarter, with the fourth quarter of 2022 probably being positive for Europe.
Centeno said that even the first half of this year could be surprising.
ECB expected negative growth during the last quarter of 2022 as well as the first two quarters of this year before returning back to recovery, therefore a positive result in the last months of 2022 can mean that the bloc may have avoided recession, which is determined by recording negative growth for two consecutive quarters. (QNA)