6/8, 11:00 AM (Source: TeleTrader)
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Euro area GDP down by 0.3% in first quarter

The gross domestic product (GDP) in the euro area decreased by 0.3% in the first quarter of 2021 compared to the previous three-month period, according to a report by Eurostat released on Tuesday. The previous estimate put the GDP at -0.6%. Meanwhile, the EU GDP was down by 0.1% for the same period. Ireland and Croatia had the fastest GDP growth in Q1, with 7.8% and 5.8% respectively.

Unemployment in the euro area also dropped by 0.3% in the first quarter, while the EU saw unemployment fall by 0.2%. The highest growth of employment was recorded in Hungary at 1.1% and Spain at 1%.

Breaking the News / DJ