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    Home » Eurozone GDP Growth Jumps 5.4% Year-on-Year despite Ukraine War
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    Eurozone GDP Growth Jumps 5.4% Year-on-Year despite Ukraine War

    June 8, 20221 Min Read
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    Eurozone GDP Growth
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    The eurozone economy expanded much faster in the first quarter of the year than in the prior three months despite the impact of the war in Ukraine.

    • Eurozone employment growth was also revised upwards to signal a further increase in the January-March period compared with the prior quarter.
    • Eurostat stated that the gross domestic product (GDP) of the 19 countries sharing the euro increased by 0.6% quarter-on-quarter, for a 5.4% year-on-year jump.
    • The figures were revised upwards from a prior flash estimate released in May when Eurozone quarterly growth was estimated at 0.3%, and the year-on-year growth was projected at 5.1%.
    • Employment growth was very solid in smaller economies, with Ireland posting an impressive 10.8% quarterly expansion.

    Employment growth in Q1 was 0.6% quarter on quarter and 2.9% over the year. Employment growth also rose from the prior quarter when it was 0.4% quarterly and 2.1% over the year.

    EuroStoxx50 down -0.33%, EURUSD down up +0.24%

    Source: eurostat

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