Eurozone final Q1 Gross Domestic Product revised to -0.1% QoQ

The Eurozone GDP decreased in the first quarter of 2023, according to Eurostat’s final estimate released on Thursday.

The former continent’s Gross Domestic Product (GDP) fell 0.1% in the first three months of current year compared to the previous quarter. During the stated time, the preliminary number showed a 0.1% increase. A 0% clip was predicted by the market.

Annual GDP growth in the EU was 1.0%, down from 1.3% previously predicted and falling short of the market’s projection of 1.2% growth.

On a monthly and annual basis, the Eurozone’s Final Employment Change was 0.6% and 1.6%, respectively.