The Eurozone economic growth slowed down to 0.2% in Q1 from the prior quarter as inflation remained at a high level in April against the prevailing war in Ukraine and pandemic.
- From October to December, gross domestic product (GDP) growth soared to reach 0.3% for the 19 countries sharing the single currency.
- For the EU as a whole, GDP expanded by 0.4% in Q1, after 0.5% in the last three months of 2021.
- After three quarters in positive territory, the growth rate remained a strong upward trend over the year, +5% for the Eurozone and +5.2% for the EU compared to Q1 of 2021.
Among the largest nations, Spain and Germany grew by 0.3% and 0.2% accordingly in Q1. France stagnated, 0% as Italy plunged (-0.2%).
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