Eurozone GDP grows 0.1% in Q1
The eurozone economy lumbered forward in the first quarter, official data showed Friday, expanding just 0.1 per cent over the previous quarter as high inflation and interest rates weigh on activity.
Germany, the EU's biggest economy, saw growth stagnate at zero per cent over the previous quarter. Year-on-year, Germany was the only country in the single-currency zone to record a contraction, of 0.1 per cent.
For the European Union overall, GDP expanded 0.3 per cent over the previous quarter, according to the figures from Eurostat, the EU's statistics office.
EU economy commissioner Paolo Gentiloni said the first-quarter data "is encouraging news, which shows a European economy that continues to show resilience against a challenging global backdrop".
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