UK slowest growing EU economy in Q1

The UK has lagged Greece and Italy to become the slowest growing economy in Q1, Eurostat figures released today show.

Last week it was revealed the UK was the slowest growing G7 economy after Italy’s Q1 GDP growth was revised up from 0.2 per cent to 0.4 per cent.

In contrast, UK GDP growth for Q1 was last month downgraded to 0.2 per cent having already undershot expectations in the preliminary estimate, which sat at 0.3 per cent.

Greece, France, Italy, Sweden and the Netherlands were the next slowest economies all delivering 0.4 per cent GDP growth in Q1.

Of the remaining largest economies, Germany grew 0.6 per cent, while Spain grew 0.8 per cent.

Seasonally adjusted GDP rose 0.6 per cent in both the euro area and the EU28, compared to 0.5 per cent and 0.6 per cent respectively in Q4 last year.

Romania was the fasted growing economy for Q1 at 1.7 per cent, followed by Latvia (1.6 per cent), Slovenia (1.5 per cent) and Lithuania (1.4 per cent).