Eurozone GDP up 0.2% in Q1, first estimate shows

The euro zone’s gross domestic product (GDP) grew 0.2% in the first quarter of 2022 compared to the fourth quarter of last year, according to preliminary data released this Friday (29) by Eurostat, the statistics agency of the European Union. (HUH).

The result was in line with the expectations of analysts consulted by the The Wall Street Journal.

In the annual comparison, the bloc’s GDP expanded by 5% between January and March, slightly higher than the market consensus of 4.9%.

Germany

German GDP grew by 0.2% in the first quarter of 2022 compared to the fourth quarter of last year, according to Destatis, the country’s statistics agency, released this Friday.

The result slightly exceeded the expectations of analysts consulted by the TWSJ, which predicted an increase of 0.1% in the period. In the annual comparison, German GDP expanded by 3.7% between January and March, slightly higher than the market consensus of 3.6%.

The German economy, however, remains 0.9% below the level of the last quarter of 2019, which preceded the crisis of the Covid-19 pandemic, highlighted Destatis.

Italy

In Italy, GDP shrank 0.2% in the first quarter of 2022 from the fourth quarter of last year, according to preliminary data released by Istat, the country’s statistics institute, also on Friday.

The result was in line with the expectations of analysts consulted by the TWSJ. In the annual comparison, on the other hand, the Italian GDP grew by 5.8% between January and March, beating the market consensus of 5.7%.

Spain

Spain’s GDP grew by 0.3% in the first quarter of 2022 compared to the fourth quarter of last year, according to preliminary data from the National Statistics Institute (INE), also released this Friday.

The result was below the expectations of analysts consulted by the TWSJ, which predicted an increase of 0.5% in the period. In the annual comparison, the Spanish GDP showed an increase of 6.4% between January and March, also lower than the market forecast of 6.6%.