Eurozone GDP rose by 0.8% y/y in Q1

In the first quarter of 2026, seasonally adjusted GDP rose by 0.1% in both the eurozone and the EU compared with the previous quarter. This is according to a preliminary flash estimate from Eurostat.

Compared to the same period last year, seasonally adjusted GDP in the eurozone rose by 0.8% in January–March, and by 1% in the EU.

Among the member states for which data is available for the period, the highest growth compared to the previous quarter was recorded in Finland (+0.9%), Hungary (+0.8%), Estonia, and Spain (both +0.6%). Declines were recorded in Ireland (-2%), Lithuania (-0.4%), and Sweden (-0.2%).

The annual growth rate was positive for fourteen countries and negative for one.

Germany’s GDP grew by 0.3% year-on-year in the first quarter, France’s by 1.1%, Italy’s by 0.7%, and Spain’s by 2.7%

As a reminder, by the end of 2025, the EU’s GDP grew by 1.6% year-on-year, while the eurozone economy expanded by 1.5%. In the fourth quarter of 2025, GDP increased by 1.4% year-on-year in the EU and by 1.3% year-on-year in the eurozone. On a quarterly basis, seasonally adjusted GDP grew by 0.3% quarter-on-quarter in both the EU and the eurozone.

As reported by GMK Center, following its meeting on April 30, the European Central Bank left its three key interest rates unchanged. The regulator notes that the war in the Middle East has led to a sharp rise in energy prices, which has contributed to higher inflation and negatively impacted economic sentiment.