Eurostat: GDP Of 19 Eurozone Countries Grows By 5.1% In Q1

The GDP of 19 eurozone countries, according to the second estimate, grew by 5.1% year-on-year and 0.3% quarter-on-quarter in the first quarter of 2022, the European statistical agency Eurostat said.

Analysts polled by DailyFx expected the figures to remain at the level of the first estimate: growth of 5% in annual terms and 0.2% in quarterly terms.

Aggregate GDP of the EU countries last quarter, also according to the second estimate, rose by 5.2% year-on-year (same as the first estimate). In quarterly terms the indicator increased by 0.4%. In the first estimate the increase was assessed at 0.5%.

Europe’s economy has thus continued its recovery growth. In the fourth quarter last year, GDP in the EU increased by 4.9% in annual terms and by 0.5% in quarterly terms, while the 19 countries of the Eurozone grew by 4.7% and 0.3% respectively.

Cumulatively, eurozone and EU GDP grew by 5.3% each in 2021. At the end of 2020, EU GDP fell by 5.9% and eurozone GDP by 6.4%.

source: ec.europa.eu

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