Eurozone, EU Economic Growth Accelerate in First Quarter

Source: Eurostat

Economic growth in both the eurozone and the European Union picked up in the first three months of the year, following the flat performance recorded in the previous quarter. EZU is up 2.25%, while VGK is up 1.32% premarket.

• The eurozone economy climbed by 2.6% in the first quarter, faster than the 2.1% recorded in the two previous quarters and 1.9% in the same quarter last year.
• EU economic growth stood at 2.5%, marking an improvement from the 2.1% in the two earlier quarters and 1.9% in the first quarter of 2021.
• Compared with the previous quarter, the eurozone economy climbed to 0.5%, while the EU economy increased by 0.4%.
• Employment in the EU increased by 0.5% and in the EU by 0.4%, following 0.4% growth in both areas in the fourth quarter of 2021.