Among countries for which data is already available, GDP expanded at a faster pace in: Spain (0.8 percent from 0.7 percent in Q4); Austria (0.6 percent from 0.5 percent); Belgium (0.5 percent from 0.4 percent); and Latvia (1.5 percent from 1.2 percent). Meanwhile GDP growth slowed in France (0.3 percent from 0.5 percent in Q4) and Lithuania (1.4 percent from 1.5 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 1.7 percent, easing from an upwardly revised 1.8 percent growth in the previous period and also in line with market consensus.
Considering the European Union, the GDP growth eased to 0.4 percent (0.6 percent in Q4) quarter-on-quarter and was steady at 1.9 percent year-on-year.