(Eurostat) Gross domestic output rose by 0.3% in the euro area in the first quarter of 2022, the same as the last quarter of 2021.
In the EU, GDP grew by 0.4%, slower compared to an expansion of 0.5% in the prior quarter.
The GDP growth of Europe compares favorably to that of the US, which declined by 0.4% in the first quarter after expanding by 1.7% in the last quarter of 2021.
Compared to the prior year, GDP rose by 5.1% in the euro area and 5.2% in the EU in the quarter. The growth was higher than an expansion of 4.7% and 4.9% in the euro area and EU, respectively, in the last quarter of 2021.
Employment growth was also relatively unchanged, with the number of employed persons increasing by 0.5% in the euro area and 0.4% in the EU in the first quarter. Employment had increased by 0.4% in both regions in the previous quarter.
On a year-over-year basis, employment saw 2.6% gains in the euro area in the first quarter. In the EU, it rose by 2.5%, both higher than an increase of 2.1% in the last quarter of 2021.
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