Ireland recorded the highest economic growth in the euro zone in the the third quarter of 2022, new figures from the European statistics agency Eurostat showed today.

Eurostat said that Ireland's gross domestic product (GDP) grew by 2.3% in the three months from July to September.

Meanwhile, the euro zone's GDP grew by slightly more than initially estimated, today's Eurostat figures show, with household spending and business investment propping up the economy.

Eurostat said GDP growth in the third quarter was 0.3% in the 19-country euro area in the three months from July to September from the previous quarter and 2.3% year-on-year.

This was above its flash estimates of 0.2% and 2.1% published in mid-November.

Household spending added 0.4 percentage points to euro zone growth and gross fixed capital formation 0.8 points. The contribution from government expenditure was negligible, while trade was a net negative of 1.1 percentage points.

After Ireland, GDP in Malta and Cyprus both expanded by 1.3%, while the steepest declines were seen in Estonia (-1.8%), Latvia (-1.7%) and Slovenia (-1.4%).

Employment levels also expanded in the euro zone by 0.3% on a quarterly, the same pace as in the second quarter of 2022.

Spain (1.4%), Malta and Cyprus (both 1%) recorded the highest growth of employment, while the highest decline of employment was recorded in Finland (-0.8%), Romania (-0.6%) and Poland (-0.4%).