Eurozone, EU Economic Growth Accelerate in First Quarter

Source: Eurostat

The eurozone and the European Union opened the year with faster economic growth, with positive growth rates recorded in all countries covered. EZU closed up 1.67%, while VGK is up 0.22% premarket.

• Seasonally adjusted economic growth posted an annual increase of 5.0% in the eurozone, up from 4.7% in the fourth quarter but lower than the 14.6% in the same quarter last year.
• Annual economic growth in the European Union stood at 5.2%, up from 4.9% in the fourth quarter but slower than the 14.0% in the first quarter of 2021.
• Compared with the previous quarter, eurozone growth was at 0.2%, while EU growth was at 0.4%.
• The biggest annual growth was recorded in Portugal with 11.9%, followed by Austria with 8.7%, and Spain with 6.4%.
• The slowest growths were seen in Germany with 3.7%, Lithuania with 4.1%, and Belgium and Czechia with 4.6%.