ICYMI - Euro area GDP weakest in 9 quarters, jobs slow, industry falls sharpest in 2 years
Investinglive·
- The Eurozone's GDP confirmed a 0.1% quarter-on-quarter growth for the first quarter, marking one of the weakest expansions in over two years.
- Industrial production declined sharply by 0.9%, primarily due to weak energy output and a significant drop in non-durable goods, while employment growth slowed notably to just 0.1%.
- Consumer confidence is declining, and businesses plan to cut jobs at the fastest rate in five years, suggesting further demand-side pressures and potentially negative impacts on GDP growth in the upcoming quarter.
