March 2024 statement of the Dating Committee on the current state of the economic activity in the euro area.

The CEPR-EABCN Euro Area Business Cycle Dating Committee deliberated on 13 March 2024 to assess the state of euro area economic activity, relying on data through the fourth quarter of 2023. GDP growth was a whisper below zero in the last two quarters of 2023. The committee, using a broad array of information, including its output gap measures, does not label the current period as a recession.