Among countries for which data is already available, GDP expanded at slower rates in: France (0.3 percent vs 0.7 percent in Q4); Austria (0.8 percent vs 0.9 percent); Belgium (0.4 percent vs 0.5 percent); and Lithuania (0.8 percent vs 1.4 percent). Meanwhile, GDP growth was unchanged in both Spain (at 0.7 percent) and Italy (at 0.3 percent). Germany, the biggest economy in the Euro Area, is expected to release preliminary GDP estimates in two weeks.
Compared with the same quarter of the previous year, the Euro Area economy expanded 2.5 percent in the three months to March, following an upwardly revised 2.8 percent growth in the previous period and matching market consensus.
Considering the European Union, GDP growth eased to 0.4 percent quarter-on-quarter (vs 0.6 percent in Q4) and to 2.4 percent year-on-year (vs 2.7 percent in Q4).