Quarterly GDP growth accelerated in the euro area and the EU in the first quarter

On quarterly basis, GDP growth accelerated in both the euro area and the EU, based on a report published by the European Union Statistical Office, Eurostat, on Thursday. The quarterly growth rate of employment in the euro area remained unchanged, but accelerated somewhat in the European Union.

Hungary reached the largest quarterly growth in employment and the second largest quarterly growth in gross domestic product within the European Union in the first quarter.

In the first quarter, gross domestic product (GDP) grew by 0.4 percent in the first quarter, compared to the previous quarter in the 19 Member States of the euro area and by 0.5 percent in the 28 Member States of the European Union – according to Eurostat’s third estimate.

Quarterly GDP growth was 0.2 percent in the euro area in the fourth quarter of 2018 and 0.3 percent in the EU. (MTI)