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Eurozone grew 0.3 percent in the first quarter

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The European Statistical Office (Eurostat) has published the current information on the growth rates of the European Union (EU) and Eurozone in the first quarter of 2022.

The seasonally adjusted Gross Domestic Product (GDP) in the 19-member Eurozone increased by 0.3 percent in the first quarter of 2022 compared to the previous quarter.

In the euro area, GDP increased by 5.1% in the first quarter of 2022 compared to the same period of 2021.

Seasonally adjusted GDP in the EU also increased by 0.4 percent in the first quarter of the year compared to the previous quarter, and by 5.2 percent compared to the same period of the previous year.

GDP increased by 0.2 percent in Germany and 0.3 percent in Spain in the first quarter compared to the previous quarter. GDP, which remained stable in France, decreased by 0.2 percent in Italy.

Compared to the same period of the previous year, the growth rate increased by 3.7 percent in Germany, 5.3 percent in France, 5.8 percent in Italy and 6.4 percent in Spain.

Employment in the EU, on the other hand, increased by 0.4 percent in the first quarter of 2022 compared to the previous quarter.

Employment rose 2.5 percent in the EU compared to the same quarter last year.

In the Euro Zone, employment increased by 0.5 percent compared to the previous quarter and by 2.6 percent compared to the same period of the previous year.

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