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Eurozone GDP grew faster than thought at start of the year

FRANKFURT — The eurozone grew at a more robust clip than initially estimated in the first quarter of this year, Eurostat data showed Wednesday.

In the first quarter of 2022, eurozone GDP expanded by 5.4 percent compared to the same period of 2021, rather than the 5.1 percent previously estimated. On the month, activity was up 0.6 percent

Based on seasonally adjusted figures, output in the currency union was 0.8 percent above the level recorded in the fourth quarter of 2019, before the COVID-19 outbreak

Economic performance at the start of the year varied significantly across the region, with Ireland growing 10.8 percent on the quarter, while France contracted by 0.2 percent.

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