Eurozone Q1 Growth Rate Preliminary Estimate 3.8%↓... In Line with Expectations
[Asia Economy Reporter Chunhee Lee] Eurostat, the statistical office of the European Union (EU), announced on the 15th (local time) that the Gross Domestic Product (GDP) of the Eurozone (19 countries using the euro) in the first quarter decreased by 3.8% quarter-on-quarter (provisional). This is the same level as the expert forecast of a 3.8% decrease.
The Eurozone's first-quarter GDP fell by 3.2% compared to the same period last year. This marks a shift to a decline after a 1.0% increase in the previous quarter.
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