GDP rose by 0.6% in euro area, 0.7% in EU in Q1 2022 over Q4 2021

Compared with the same quarter of the previous year, seasonally-adjusted GDP increased by 5.4 per cent in the euro area and by 5.6 per cent in the EU in Q1 2022.

During Q1 2022, GDP in the United States decreased by 0.4 per cent compared with the previous quarter and by 3.5 per cent compared with the same quarter of the previous year.

Ireland (plus 10.8 per cent) recorded the highest increase of GDP compared to the previous quarter, followed by Romania (plus 5.2 per cent) and Latvia (plus 3.6 per cent). Decreases were observed in Sweden (minus 0.8 per cent), France (minus 0.2 per cent) and Denmark (minus 0.1 per cent).

Based on seasonally-adjusted figures, GDP volumes in the euro area and EU were 0.8 per cent and 1.5 per cent respectively above the level recorded in Q4 2019, before the COVID-19 outbreak.

For the United States, GDP was 2.8 per cent higher than the level in Q4 2019.

ALCHEMPro News Desk (DS)