On April 30, preliminary data released by the relevant statistical department showed that after seasonal adjustment, the gross domestic product (GDP) of the eurozone increased by 0.4% quarter - on - quarter in the first quarter of this year, and the GDP of the EU increased by 0.3% quarter - on - quarter.
The data also indicated that after seasonal adjustment, the eurozone's GDP increased by 1.2% year - on - year in the first quarter of this year, and the EU's GDP increased by 1.4% year - on - year.
Looking at individual countries, the GDP of Germany, the largest economy in the EU, increased by 0.2% quarter - on - quarter in the first quarter. The GDPs of France, Spain, and Italy increased by 0.1%, 0.6%, and 0.3% quarter - on - quarter respectively. Ireland's GDP increased by 3.2% quarter - on - quarter, while Hungary's GDP shrank by 0.2% quarter - on - quarter.
Analysts pointed out that the latest tariff policy of the US government has impacted global economic development and also brought uncertainties to the development of the eurozone. Data showed that economic confidence in the eurozone continued to decline in April, reaching a recent low.