In the first three months of 2025, the economy of the euro area recorded a growth of 0.4%, as reported by Europa Press. This doubles the expansion rate of 0.2% observed in the last quarter of 2024, despite tensions related to the threat of tariffs from the United States, according to the preliminary data published by Eurostat.
In the overall European Union, the growth of the Gross Domestic Product (GDP) moderated to 0.3% in the first quarter, compared to the 0.4% expansion in the fourth quarter of 2024. Compared to the same quarter of the previous year, the GDP of the euro area grew by 1.2%, while that of the Twenty-Seven grew by 1.4% year-on-year.
Among the EU Member States with available data for the first quarter of 2025, Ireland (+3.2%) recorded the highest growth rate compared to the previous quarter, followed by Spain and Lithuania (both +0.6%).
On the other hand, Hungary (-0.2%) was the only country in the EU that experienced a contraction in activity compared to the previous quarter.
Apart from Spain, which moderated its quarterly expansion by one-tenth to 0.6%, the rest of the major eurozone economies accelerated their growth in the first quarter.
Thus, Germany and France avoided entering a technical recession by growing by 0.2% and 0.1%, respectively, when in the fourth quarter both countries experienced declines in activity, by two-tenths in the case of Germany and 0.1% in the case of France, while Italy recorded an expansion of 0.3%, compared to 0.2% in the previous quarter.
The European statistical office specified that its preliminary estimate of GDP growth in the first quarter of 2025 is based on data from 18 Member States, representing 94% of the eurozone GDP and 93% of the EU GDP, noting that, exceptionally, Portugal could not provide timely data "due to the large-scale power outage on April 28".
In any case, Eurostat reminds that all figures presented may be revised with the preliminary GDP estimate scheduled for May 15, as well as subsequently with periodic estimates.