Eurozone GDP exceeds expectations - Ireland leads euro bloc growth in first quarter of 2025
The eurozone economy expanded by 0.4% in the first quarter of 2025, according to preliminary figures published by Eurostat. The result, which marks the fifth consecutive quarter of growth, exceeded expectations of 0.2% and signals a modest increase in economic momentum across the bloc.
The quarterly expansion doubled the 0.2% growth recorded in the last three months of 2024, offering a bit more certainty in a period of inflation and high interest rates. On an annual basis, seasonally adjusted GDP grew by 1.2%, unchanged from the previous quarter.
The European Union's broad economy expanded by 0.3% in the first quarter, a slight slowdown from the 0.4% gain recorded in the final quarter of last year. Year-on-year, EU GDP also grew by 1.4%, maintaining the same pace as in the previous three months.
Ireland, Spain and Lithuania boost growth
Among the member states with available data, Ireland posted the strongest quarterly performance, with GDP growing by 3.2%. Spain and Lithuania followed with expansions of 0.6% each.
Germany, the bloc's largest economy, managed to emerge from its brief slump, recording growth of 0.2% in the first quarter, after shrinking by 0.2% at the end of 2024, in line with analysts' forecasts.
Meanwhile, France recorded a 0.1% increase, after a 0.1% contraction in the previous quarter, although the figure was below experts' expectations. Hungary was the only EU country to record a quarterly contraction, falling by 0.2%.
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