Key facts
- Eurozone Q1 GDP contracted by 0.2%.
- Q1 GDP missed forecasts of 0.1% growth.
- Q1 GDP contracted after 0.1% growth in the prior quarter.
- Eurozone Q1 employment grew by 0.5%.
- Q1 employment growth met forecasts.
The Gross Domestic Product (GDP) for the Eurozone in the first quarter showed a contraction of 0.2%. This figure fell short of the anticipated 0.1% growth and marked a decrease from the 0.1% growth recorded in the preceding quarter. The data suggests a slowdown in economic expansion within the Eurozone during the first three months of the year. In contrast, Eurozone employment saw a 0.5% increase in Q1, meeting market expectations and continuing from a 0.7% rise in the previous quarter.