Economic growth in the euro area was better than expected

By: Trademagazin editor Date: 2022. 05. 17. 11:09

Economic growth in the euro area performed better than expected in the first quarter, according to a flash estimate by the European Union’s statistical office. GDP growth exceeded the previous quarter and analysts ’forecasts on both a quarterly and annual basis. Hungarian GDP growth was well above the EU average.

EU and euro area grow above 5 percent year-on-year in first quarter

In the first quarter of this year, seasonally adjusted gross domestic product (GDP) grew by 0.3 percent on a quarterly basis in the euro area and 0.4 percent in the EU. Analysts expected a 0.2 percent quarterly increase in the eurozone in the first quarter. (MTI)