Eurostat’s annualized growth slowed in the first quarter to 1.3%, and in the European Union (EU) to 1.2%, according to a quick estimate released on Tuesday by Eurostat.
Gross domestic product (GDP) of the eurozone increased at an annualized rate of 1.3% between January and March after rising by 1.8% in the previous quarter, while in the EU it grew by 1.2% compared to an annual growth of 1. 7% registered between October and December 2022.
In a quarterly comparison, Eurozone GDP registered growth of 0.1% in the Eurozone and 0.2% in the EU, after retracing 0.1% in both areas in the last quarter of 2022, according to the European Statistical Office.
Among the Member States for which data are available, Spain (3.8%), Cyprus (3.4%) and Romania (2.8%) had the highest annual growth, while Poland (3.9%), Portugal ( 1.6%) and Finland. (1.1%) made the biggest increase in the chain.
In the newsletter, Eurostat also publishes employment data, indicating that in the first three months of the year, employment increased by 1.7% year-on-year in the euro area and 1.6% in the EU, an acceleration from respectively to 1.5 % and 1.3% in the previous quarter.
Also in the chain case, the employment rate accelerated to 0.6% in the euro area and the EU, compared to 0.3% in both countries in the last three months of 2022.
Author: Portuguese
Source: CM Jornal
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