The euro area economy shrank 0.2 percent in the first quarter from the prior quarter as initially estimated, second estimates from Eurostat showed Wednesday.
The recession, thus extended into the sixth quarter. The latest sequential decline follows a 0.6 percent drop in the fourth quarter of 2012.
On a yearly basis, gross domestic product was down 1.1 percent, which was slightly sharper than the 1 percent contraction estimated on May 15. GDP decreased 1 percent in the fourth quarter of last year.
The expenditure side breakdown showed that all sub-components except household spending declined in the first quarter. Government spending slipped 0.1 percent, while household expenditure grew 0.1 percent sequentially.
Investment plunged 1.6 percent. At the same time, exports and imports were down 0.8 percent and 1.1 percent, respectively.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.