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Monday, January 6, 2025

Reshaping Perspectives and Catalyzing Diplomatic Evolution

Eurostat revises EU growth data for the first quarter

And Eurostat said on Tuesday, after collecting revised data, that the European Union, which includes 27 countries as a whole, recorded growth of 0.2%, not 0.3%, in the first three month of the year, on a quarterly basis.

However, the agency did not register any change in the economic growth recorded in the euro zone, which stood at 0.1% in the first quarter of 2023.

Despite the scrutiny, the European Union avoided a recession last winter after gross domestic product contracted by 0.1% in the last three months of 2022.

On Monday, the European Commission raised its forecast for economic growth in 2023 for the 20-nation eurozone by 0.2 points to 1.1%.

In addition, the Commission raised its forecast for growth in the bloc as a whole for the year 2023, but it remains below that recorded for the euro zone at around 1%.

The Commission also revised its inflation forecast for the euro zone, expecting it to reach 5.8% this year, against 5.6% previously forecast.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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