Eurozone Final GDP arrives at 0.6% QoQ in Q1 vs. 0.3% expected

The Eurozone economy expanded by 0.6% on the quarter in the three months to March of 2022 vs. 0.3% prior, the final revision confirmed on Wednesday. The market consensus was for a reading of 0.3% in the reported period.

On an annualized basis, the bloc’s GDP rate rose by 5.4% in Q1 vs. 5.1% booked in Q4 2021 while matching 5.1% expectations.

Meanwhile, the bloc’s Q1 Employment Change arrived at 0.6% QoQ and 2.9% YoY. The employment data surpassed expectations across the time horizon.