Portugal’s GDP grew the most in the 1st quarter – Economy
Portugal’s Gross Product (GDP) grew the most (11.9%) in the first quarter, among the 11 European Union (EU) countries for which there are quick data, according to an estimate this Friday released by Eurostat. .
The euro zone saw its economy accelerate to 5%, a figure that compares with the rise of 0.2% in the same quarter of the previous year and 4.7% in the last three months of 2021.
The EU’s GDP growth, for its part, also accelerated in the first quarter to 5.2%, compared to 0.4% a year earlier and 4.9% in the previous period.
According to the EU researcher’s report, the GDP was developed in the first quarter, with the data between 11.9% year on year in the EU and 2.6% on a chain.
Compared to the first quarter of 2021, the biggest increase in GDP was recorded in Austria (8.7%) and the third in Spain (6.4%).
Also in the chain, the Portuguese economy grew the most (2.6%), followed by Austria (2.5%) and Latvia (2.1%).
Contrary to the comparison with the previous year, in which there was no contraction in GDP, compared to the previous quarter, Sweden’s economy retreated by 0.4% and Italy’s by 0.2%.