First-quarter GDP decrease in EU, eurozone: Eurostat

Seasonally adjusted first-quarter GDP decreased by 0.2 percent in the eurozone and by 0.1 percent in the European Union (EU), compared with the previous quarter, according to an estimate published on Friday by Eurostat, the statistical office of the EU.

In the fourth quarter of 2025, GDP had increased by 0.2 percent quarter-on-quarter in both the eurozone and the EU, according to Eurostat.

On an annualized basis, the EU economy grew by 0.7 percent year over year in the first quarter of 2026, while economy in the 19-member eurozone saw a 0.3-percent increase compared with 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 noteworthy figures came from Ireland, where the economy contracted by 12.1 percent quarter on quarter and 16.8 percent year on year in the first three months of 2026, becoming a significant factor dragging down the overall economic performance of the eurozone.

Analysts believe that the situation in the Middle East has significantly driven up oil and natural gas prices, dealing a major blow to Europe which is heavily dependent on energy imports. At present, the eurozone is facing the risk of stagflation -- a combination of stagnant economic growth and rising prices.

China is ready to strengthen cooperation on water resources and ecological protection with Thailand and other Mekong countries, Foreign Ministry spokeswoman Mao Ning said at a press briefing in Beijing on Friday. Mao made the remarks at a regular press briefing in response to a question regarding environmental issues related to cross-border economic activities in the region.

"The Chinese government has all along asked Chinese companies to fulfill their corporate responsibility and protect the environment. We stand ready to enhance cooperation with Thailand and other Mekong countries on the protection of water resources and ecological environment," she said.