Eurozone GDP contracted -0.3% qoq in Q1, according to latest estimate by Eurostat. Compared with the same quarter of the previous year, GDP dropped -1.3% yoy. EU GDP contracted -0.1% qoq, -1.2% yoy in Q1.
Among EU member states, Ireland (+7.8%) and Croatia (+5.8%) recorded the sharpest increases of GDP compared to the previous quarter, followed by Estonia (+4.8%) and Greece (+4.4%). The strongest declines were observed in Portugal (-3.3%) and Slovakia (-2.0%), followed by Germany (-1.8%) and Latvia (-1.7%).
