Eurozone economic growth was stronger than previously expected in the first quarter, revised data showed on Tuesday, and employment also rose, showing the eurozone expanded at the solid pace seen in late December. 2021 despite the war in Ukraine.
The European Union’s statistics agency Eurostat said the Gross Domestic Product (GDP) of the 19 countries sharing the euro rose by 0.3% in the January-March period over the previous three months, marking a growth of 5.1%. % compared to the same period of the previous year.
Eurostat had previously estimated a growth rate of 0.2% on a quarterly basis and 5.0% on an annual basis.
Data shows the eurozone expanded in the first three months of 2022 at the same quarterly pace as the last quarter of 2021, despite the Russian invasion of Ukraine on February 24, which disrupted supply chains, hit confidence and boosted prices. of energy.
First-quarter employment growth was 0.5% quarter-on-quarter and 2.6% year-on-year, Eurostat said, accelerating from 0.4% and 2.1% respectively in the previous three months.
Source: CNN Brasil
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