(Eurostat) Both the gross domestic product and employment increased by 0.6% in the euro area in the first quarter of 2022.
In the EU, the GDP shot up by 0.7%, while employment increased by 0.5%.
The increases in the output in the first quarter were an acceleration from the fourth quarter of 2021, where GDP expanded by 0.2% and 0.5% in the euro area and EU, respectively.
Compared to the first quarter of 2021, GDP improved by 5.4% in the euro area and was up by 5.6% in the EU. The increase was bigger than a gain of 4.7% and 4.9% in the euro area and EU, respectively, in the fourth quarter of 2021.
Ireland was the strongest growing country, with a GDP expansion of 10.8% in the first quarter from the previous quarter. Romania and Latvia saw 5.2% and 3.6% expansions, respectively.
GDP shrunk in Sweden at -0.8%, followed by France at 0.2%, while Denmark recorded -0.1% growth.
The increases in GDP in the euro area and EU in the first quarter now eclipse that of the US, which saw a decline of 0.4%.
DAX is down -0.50%, EURUSD is up +0.14%.
