GDP rises by 0.4% in the euro area, 0.5% in the EU28 and 0.9% in Cyprus during Q1 2019

Seasonally adjusted GDP rose by 0.4% in the euro area (EA19), by 0.5% in the EU28 and by 0.9% in Cyprus during the first quarter of 2019, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union.

In the fourth quarter of 2018, GDP had grown by 0.2% in the euro area, by 0.3% in the EU28 and by 1.0% in Cyprus. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.2% in the euro area, by 1.5% in the EU28 and by 3.5% in the first quarter of 2019, after also +1.2%, +1.5% and 3.8% respectively in the fourth quarter 2018.

During the first quarter of 2019, GDP in the United States increased by 0.8% compared with the previous quarter (after +0.5% in the fourth quarter of 2018). Compared with the same quarter of the previous year, GDP grew by 3.2% (after +3.0% in the previous quarter).

Meanwhile the number of employed persons increased by 0.3% in both the euro area and the EU28 in the first quarter of 2019, compared with the previous quarter. In the fourth quarter of 2018, employment had grown by 0.3% in the euro area and 0.2% in the EU28. Compared with the same quarter of the previous year, employment increased by 1.3% in the euro area and by 1.1% in the EU28 in the first quarter of 2019, after +1.3% and +1.2% respectively in the fourth quarter of 2018.

Source: Cyprus News Agency