The euro area’s gross domestic product (GDP) unexpectedly fell 0.1% in first quarter of 2023 — compared to the previous 3-month period, according to the second reading from Eurostat on Thursday.
Eurozone economy was initially estimated to grow 0.1% quarter-on-quarter in January-March.
Market forecast single currency zone economy to stagnate in three months to March.
The GDP in the EU, on the other hand, rose 0.1% compared to the previous quarter. Eurostat also revised the 2022 fourth quarter data to post a 0.1% decline in the euro area and by 0.2% in the EU. Poland saw the largest growth among member states with 3.8% compared to the previous quarter in January-March—AA
