5/17, 11:01 AM (Source: TeleTrader)
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Euro area economy jumps by 5.1% in Q1

The seasonally adjusted gross domestic product (GDP) in the euro area (EA19) jumped by 5.1% in the first quarter of 2022 compared to the same period a year prior, according to an estimate released by Eurostat on Tuesday. In the entire European Union (EU27), the economy rose by 5.2% on an annual basis.

The GDP increased by 0.3% in the Eurozone and by 0.4% in the EU27 in the first quarter compared to the previous one.

Quarter on quarter, employment was 0.5% higher in the euro area and 0.4% in the whole EU for the first three-month period. On an annual basis, employment in the euro area and the entire EU surged by 2.6% and 2.5% respectively.

Baha Breaking News (BBN) / AY