EU & euro area see 1.3%, 1.2% GDP growth on YoY basis for Q1 2023

In Q1 2023, GDP rose by 0.1 per cent in the euro area and by 0.2 per cent in the EU, compared with the previous quarter. GDP had remained stable in the euro area and had decreased by 0.1 per cent in the EU in Q4 2022, according to a flash estimate published by Eurostat, the statistical office of the EU.

The number of employed persons increased by 0.6 per cent quarter-on-quarter (QoQ) in both the euro area and the EU in Q1 2023. In Q4 2022, employment had increased by 0.3 per cent in both the euro area and the EU.

Employment increased by 1.7 per cent in the euro area and by 1.6 per cent in the EU during January-March 2023, after rising 1.5 per cent in the euro area and 1.3 per cent in the EU in Q4 2022.

ALCHEMPro News Desk (NB)