EU economy expands 1.2% in Q1

ISTANBUL

The EU economy expanded 1.2% in the first quarter of 2023 on a yearly basis, Eurostat’s provisional figures revealed on Tuesday.

The gross domestic product growth rate was also at 1.3% in the euro area, according to the statistical authority of the 27-member bloc.

Among member states, the highest growth rate was posted by Spain with 3.8%, followed by the Greek Cypriot administration with 3.4%, and Romania with 2.8%.

Meanwhile, four member states posted negative growth rates – Lithuania (minus 3.4%), Hungary (minus 1.1%), Czech Republic (minus 0.2%), and Germany (minus 0.1%).