The Eurozone economy expanded 0.6% qoq in the three months to March 2022 vs. 0.3% previously, as confirmed by the final review on Wednesday. The market consensus was for a reading of 0.3% in the reporting period.
In annualized terms, the bloc’s GDP rate increased by 5.4% in the first quarter, compared to 5.1% registered in the fourth quarter of 2021and matched expectations of 5.1%.
For its part, the variation in employment in the bloc in the first quarter was 0.6% quarter-on-quarter and 2.9% year-on-year. Employment data beat expectations across the entire time horizon.
On the GDP of the Eurozone
The GDP published by the European Commission’s statistics office Eurostat is an estimate of the total value of goods and services produced in the Eurozone. GDP is considered a measure of global economic activity and indicates the rate of growth of a country’s economy. A reading above expectations is bullish for the euro, while a reading below is bearish.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
