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Dow Jones Newswires: Eurozone economy grew in Q1 despite omicron, Russia’s invasion of Ukraine


The eurozone economy grew in the first quarter but only modestly, as the spread of the omicron coronavirus variant and Russia’s invasion of Ukraine weighed on economic performance, according to a second estimate.

Across the 19 countries that use the euro as their currency, gross domestic product grew 0.3% on quarter in the first three months of the year, the European Union’s statistics agency Eurostat said Tuesday, up from a first estimate of 0.2% for the period and compared with a 0.3% rise in the previous quarter. Economists polled by The Wall Street Journal forecast the economy to grow by 0.2%.

Year-on-year, the economy grew 5.1%, Eurostat said. This compares with 5.0% growth expected by economists polled by The Wall Street Journal and in the first estimate published by Eurostat.

Eurostat added that the number of employed citizens increased by 0.5% in the first quarter compared with the previous quarter, when this figure rose 0.4%.

Write to Maria Martinez at

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