Financial News: Eurozone GDP Growth Confirmed At 0.1%

Eurozone GDP Growth Confirmed At 0.1%

(RTTNews) - The euro area economy expanded only marginally in the first quarter, the statistical office Eurostat confirmed on Wednesday.

Gross domestic product posted a quarterly growth of 0.1 percent, matching the initial estimate but slower than the 0.2 percent expansion seen in the fourth quarter, Eurostat reported.

On a yearly basis, GDP growth eased to 0.8 percent from 1.3 percent in the fourth quarter. The annual rate also matched the estimate published on April 30.

In the EU27, sequential growth steadied at 0.2 percent. At the same time, annual growth slowed to 1.0 percent from 1.4 percent.

The International Monetary Fund forecast the euro area economy to grow 1.1 percent in 2026 and 1.2 percent next year.

Official data showed that euro area employment edged up 0.1 percent compared to a 0.2 percent rise in the fourth quarter. The annual employment growth slowed to 0.5 percent from 0.7 percent a quarter ago.

Eurostat is scheduled to release detailed GDP and employment data for the first quarter on June 5.

Another report from Eurostat showed that industrial output grew at a steady pace in March. Production moved up 0.2 percent on a monthly basis, the same rate as seen in February. Output was forecast to grow 0.3 percent.

Meanwhile, year-on-year, the decline in industrial production deepened to 2.1 percent in March from 0.8 percent in February. Economists had forecast an annual fall of 1.7 percent.

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