(Eurostat) The euro area posted a 0.2% increase in GDP in the first quarter of 2022, narrower than an expansion of 0.3% in the fourth quarter of 2021.
In the EU, GDP grew by 0.4% in the first quarter of 2022, down from an expansion of 0.5% in the fourth quarter of 2021.
The strongest quarterly growth in GDP was in Portugal, which gained 2.6%, followed by Austria and Latvia at 2.5% and 2.1%, respectively. The countries of Sweden and Italy posted contractions of 0.4% and 0.2%, respectively.
Compared to the first quarter of 2021, growth was 5.0% and 5.2% higher in the euro area and EU, respectively.
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