In the first quarter, seasonally-adjusted GDP increased by an average of 0.3% in the euro area and the European Union compared with the previous quarter, according to the flash estimate published by the EU’s statistical office (Eurostat).
Malta (+1.3%) recorded the highest increase in GDP compared with the previous quarter, followed by Cyprus (+1.2%) and Croatia (+1.0%). Decreases were observed in Denmark (-1.8%), Estonia (-0.5%) and the Netherlands (-0.1%), while wealth creation stagnated in Slovenia (0.0%).
In the first quarter, growth was weak in Germany and France (0.2% each) as well as in Italy (0.3%), and sustained in Spain (0.7%).
In the euro area, growth was mainly driven by household final consumption expenditure.
In the fourth quarter of 2023, GDP fell by 0.1% in the euro area and remained stable in the EU. (Original version in French by Mathieu Bion)