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Financial News: Eurozone Q1 GDP Growth Unrevised

Eurozone Q1 GDP Growth Unrevised

06/07/2024 - 06:12:00 (RTTNews)

(RTTNews) - Euro area economy expanded as initially expected in the first quarter, underpinned by household consumption and exports, latest data from the statistical office Eurostat showed Friday.

The seasonally adjusted GDP grew 0.3 percent from the fourth quarter, when output declined 0.1 percent.

GDP increased by 0.4 year-on-year in the euro area after a revised 0.2 percent growth in the previous three months.

Both figures were unrevised from the their <a href=https://www.rttnews.com/3447947/eurozone-gdp-recovers-as-estimated-in-q1.aspx target=_blank >flash estimates released on May 15</a>.

Household final consumption expenditure increased 0.2 percent and exports grew 1.4 percent. Gross fixed capital formation decreased 1.5 percent and imports fell 0.3 percent.

In the EU, GDP grew 0.3 percent sequentially after remaining unchanged in the fourth quarter.

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