London, Friday, 29 April 2022
In the first three months of 2022, the Euro Area economy grew by 0.2 percent quarter on quarter, the worst pace since the union emerged from recession last year and well below market estimates of a 0.3 percent increase.
While the French economy paused, growth in Spain (0.3%) and Germany (0.2%) more than offset a contraction in Italy (-0.2%).
According to preliminary Eurostat data, the war and subsequent commodity price increases reduced growth by 0.1 percentage points, despite the European Commission forecasting growth of 0.3 percent quarter-on-quarter just before the Russian invasion.
GDP increased by 5% year over year, up from 4.7 percent in the previous quarter and in line with expectations.
( Source: EUROSTAT // Edit by: The Decision Maker)