Compared with the same quarter of the previous year, seasonally-adjusted GDP increased by 5 per cent in the euro area and by 5.2 per cent in the EU in Q1 2022. In the previous quarter, it witnessed a 4.7-per-cent rise in the euro area and a 4.9-per-cent increase in the EU, Eurostat said in a release.

Among the member states for which data are available for Q1 2022, Portugal (2.6 per cent) recorded the highest increase compared to the previous quarter, followed by Austria (2.5 per cent) and Latvia (2.1 per cent). Declines were recorded in Sweden (minus 0.4 per cent) and in Italy (minus 0.2 per cent). The year on year growth rates were positive for all countries.

Fibre2Fashion News Desk (DS)