- Analytics
- News and Tools
- Market News
- Eurozone final Q1 Gross Domestic Product revised to -0.1% QoQ vs. 0.1% first estimate
Eurozone final Q1 Gross Domestic Product revised to -0.1% QoQ vs. 0.1% first estimate
- The Eurozone economy unexpectedly contracted 0.1% in the first quarter.
- EUR/USD holds gains near 1.0730 despite the downbeat Eurozone GDP data.
The Eurozone economy contracted in the first quarter of 2023, the final estimate published by Eurostat confirmed on Thursday.
The Gross Domestic Product (GDP) in the old continent shrank 0.1% in the first three months of this year compared with the previous quarter. The preliminary figure showed a 0.1% growth during the reported period. The market estimated a 0% clip.
On an annual basis, the bloc’s GDP grew 1.0%, down from the 1.3% expansion initially estimated and missing the market expectation of a 1.2% increase.
Eurozone’s Final Employment Change came in at 0.6% and 1.6% on a monthly and yearly basis respectively.
Market reaction
The Euro is unperturbed by the discouraging Eurozone data, with EUR/USD adding 0.28% on the day near 1.0730.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
