Economy

EU GDP expands 5.2% year-on-year in Q1

Annual growth rates were positive for all countries, says Eurostat

Aysu Bicer   | 29.04.2022
EU GDP expands 5.2% year-on-year in Q1

ANKARA

The gross domestic product (GDP) rose by 5.2% in the EU in the first quarter of 2022, compared with the same quarter last year, according to a flash estimate by the EU statistical office on Friday.

The quarter-on-quarter figure posted a 0.4% rise, Eurostat said.

Portugal (2.6%) saw the highest increase compared to the previous quarter, followed by Austria (2.5%) and Latvia (2.1%). Declines were observed in Sweden (0.4%) and Italy (0.2%).

The year-on-year growth rates were positive for all countries, Eurostat said.

Meanwhile, Eurozone annual inflation rate was at 7.5% in April, hitting a record level in six months in a row, according to preliminary official figures on Friday.

Energy prices item was the largest contributor to the inflation rate in April, followed by food-alcohol-tobacco, non-energy industrial goods and services.

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