By Gokhan Ergocun
ISTANBUL (AA) - The eurozone economy expanded by 1.2% year-on-year in the first quarter, and the EU also enlarged by 1.4%, Eurostat announced on Wednesday.
On a quarterly basis, the euro area posted a GDP growth rate of 0.4%, while the EU 0.3%, according to Eurostat's preliminary figures.
Among the member states, Ireland recorded the highest quarterly increase with 3.2%, followed by Spain and Lithuania (both 0.6%).
Hungary (minus 0.2%) was the only state that recorded a decrease compared to the previous quarter.
The year-on-year growth rate was positive for 11 countries and negative for three countries.
Austria saw the largest annual decline with 0.7%, followed by Hungary with 0.7% and Germany with 0.2%.
Ireland also posted the largest annual increase with 10.9%.