Eurozone economy in difficulty - GDP in the first quarter decreased by 0.2%
Seasonally adjusted Gross Domestic Product (GDP) for the first quarter decreased by 0.2 percent in the Eurozone and by 0.1 percent in the European Union (EU), compared to the previous quarter, according to an estimate published by Eurostat.
In the fourth quarter of 2025, GDP had grown by 0.2 percent compared to the quarter in both the eurozone and the EU, according to Eurostat.
On an annual basis, the EU economy grew by 0.7 percent compared to the same period last year in the first quarter of 2026, while the economy in the 19-member eurozone grew by 0.3 percent compared to the same period last year. Both figures were lower than the respective growth rates of 1.4 percent and 1.2 percent in the previous quarter, indicating a slowdown in Europe's economic growth momentum.
According to Eurostat, the most important figures came from Ireland, where the economy contracted by 12.1 percent in the quarter and 16.8 percent in the year in the first three months of 2026, becoming a significant factor that reduced the overall economic performance of the eurozone.
Analysts believe that the situation in the Middle East has significantly increased the prices of oil and natural gas, dealing a major blow to Europe, which is heavily dependent on energy imports. Currently, the eurozone is facing the risk of stagflation -- a combination of stagnant economic growth and rising prices.
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