Euro area economy grows 5% in Q1 - Breaking The News

Euro area economy grows 5% in Q1

29 April

1 min read

EPA-EFE/RAMON VAN FLYMEN

The gross domestic product (GDP) in the Eurozone increased by 5% in the first quarter compared to the same quarter in 2021, Eurostat announced in a preliminary report on Friday. The European Union's GDP was up by 5.2%.

Compared to the previous quarter, the euro area GDP grew by 0.2%, while the EU GDP increased by 0.4%. On a quarterly basis, Portugal recorded the highest GDP rise of 2.6%, followed by Austria at 2.5%. Sweden and Italy saw their economies contract at -0.4% and -0.2% respectively.

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