Eurostat: GDP rose by 0.4%, but Greece in recession

Greece noted amongst the worst decreases in its GDP

Eurostat released its data for the GDP as part of the second estimate for the first quarter of 2015. Seasonally adjusted GDP rose by 0.4% in both the euro area and the EU28 during the first quarter compared to the previous quarter. In the fourth quarter of 2014, GDP also grew by 0.4% in both areas.

Member states that had data available for the first quarter of 2015 showed that the EU member states that noted the greatest growth compared to the previous quartr were the Czech Republic (+3.1%), Cyprus and Romania (both +1.6%). These were followed by Poland (+1.0%), Bulgaria and Spain (both +0.9%), Hungary, Slovenia and Slovakia (all +0.8%). Decreases were registered in Lithuania (-0.6%), Estonia (-0.3%), Greece (-0.2%) and Finland (-0.1%).

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