According to the flash estimates released by Eurostat, the statistical office of the European Union, during the first quarter this year gross domestic product (GDP) increased by 0.2 percent in the euro area and was up by 0.4 percent in the EU member states compared to the previous quarter. In the fourth quarter last year, GDP had increased by 0.3 percent in the euro area and by 0.5 percent in the EU, on quarter-on-quarter basis.
Compared with the same quarter of 2021, in the first quarter of the current year seasonally adjusted GDP increased by five percent in the euro area and by 5.2 percent in the EU member states, after rising by 4.7 percent and 4.9 percent year on year in the previous quarter in the euro area and in the EU member states.