5/16, 11:00 AM (Source: TeleTrader)
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Eurozone's GDP grows 1.3% in Q1

The euro area's gross domestic product (GDP) grew further during the first quarter, the European Commission's Eurostat revealed in a preliminary report published on Tuesday. In comparison to the corresponding quarter the year before, the GDP rose by 1.3% in the euro area and by 1.2% in the European Union, coming in line with the market estimates.

The highest growth was registered in Spain, where the figure rose by 3.8% year-over-year, followed by Romania and Ireland's increase of 2.8% and 2.6% respectively. In comparison to the previous quarter, the GDP expanded by 0.1% in the euro area, and by 0.2% in the bloc, with Poland's economic growth accelerating at the fastest rate of 3.9%.

On the annual basis, the employment rate climbed in the euro area and the bloc by 1.7% and 1.6% each during the opening quarter of 2023, while rising by 0.6% in both the Eurozone and the EU in comparison to the last quarter.

Baha Breaking News (BBN) / AB