Year-on-year growth for Q1 2025 stands at 1.2 percent for the eurozone and 1.4 percent for the EU.
BRUSSELS, April 30 (Xinhua) -- The eurozone's gross domestic product (GDP) increased by 0.4 percent in the first quarter of 2025 compared to the previous quarter, according to a flash estimate published on Wednesday by Eurostat.
The EU's statistical office also reported that the economy of the European Union (EU) grew by 0.3 percent during the same period, on a quarter-over-quarter basis.
In the fourth quarter of 2024, GDP had increased by 0.2 percent in the euro area and by 0.4 percent in the EU, according to Eurostat.
Year-on-year growth for Q1 2025 stands at 1.2 percent for the eurozone and 1.4 percent for the EU.
Among the larger economies, Spain led with a 0.6 percent increase, while France and the Netherlands disappointed with only 0.1 percent growth. Germany recorded a 0.2 percent rise, and Italy exceeded expectations with a 0.3 percent expansion.
Countries with the highest quarter-to-quarter growth rates include Ireland, with a 3.2 percent increase compared to 3.6 percent in Q4 2024. Hungary, by contrast, posted negative growth of -0.2 percent, down from 0.6 percent in the previous quarter.
"Eurozone GDP rose a better-than-expected 0.4 percent in the first quarter," said Peter Vanden Houte, chief economist for the eurozone at ING. Vanden Houte attributed the economic growth to a surge in exports to the United States just before the introduction of higher tariffs.
He noted, however, that first-quarter GDP figures are "already ancient history" and offer limited insight into future economic performance.
Vanden Houte expects the next two quarters to reflect a stagnant economy, citing the negative impact of net exports, weaker consumption growth due to a rising savings ratio, and stagnant investment caused by increased uncertainty.
The economy might pick up in the fourth quarter of 2025, said Vanden Houte, with full-year growth for 2025 projected to reach around 0.7 percent at best.
