The GDP of the EU and the Euro Zone grew by 0.4 percent in the first quarter

The seasonally adjusted gross domestic product (GDP) both rose by 0.4 percent in the European Union's 28 member states and in the Euro Zone’s 19 countries in the first quarter, compared to the last quarter of last year – the second estimate of the EU's statistical office revealed on Tuesday. The data remained unchanged, compared to the flash estimate published at the beginning of May.

In an annual comparision, growth was 1.5 percent in the European Union, and 1.0 percent in the Euro Zone.

According to the data, tha largest increase occured in the Czech Republic (3.1 percent), in Cyprus and Romania (both 1.6 percent), followed by Poland, (1.0 percent), Spain and Bulgaria (both 0.9 percent), Hungary, Slovenia and Slovakia (0.8 percent). Significant drop in GDP was measured in Lithuania (-0.6 percent), Estonia (-0.3 percent), Greece (-0.2 percent) and Finland (-0.1 percent). (MTI)