Economic growth in the European Union and the euro area slowed in the first quarter of 2026 on an annual basis, according to the latest Eurostat data.
The annual growth rate of economic output in the EU fell to 1% in the January–March 2026 period, down from 1.4% in the final quarter of last year.
The euro area, now comprising 21 member states following Bulgaria’s accession on 1 January 2026, also recorded slower annual growth of 0.8%, compared with 1.3% in the previous quarter.
Compared with the previous quarter, EU gross domestic product (GDP) increased by 0.2% in January–March 2026, the same rate as in the preceding period.
In the euro area, GDP rose by 0.1% after growth of 0.2% in the fourth quarter of 2025.
Bulgaria recorded GDP growth of 2.9% in the first quarter of the year compared with the same period in 2025, as well as a 0.7% increase compared with the previous quarter. The figures are consistent with the seasonally adjusted data published today by the National Statistical Institute (NSI).
In the October–December 2025 period, the Bulgarian economy grew at identical rates on both a quarterly and annual basis.
Bulgaria recorded the second highest annual economic growth rate in the European Union during the first quarter of 2026, according to Eurostat data. Only Cyprus posted stronger growth, at 3%, while Spain ranked third with 2.7%.
During the same period, only Ireland (-6.3%) and Romania (-1.5%) reported an annual decline in GDP.
Employment continues to rise
The number of employed people increased by 0.1% in both the euro area and the European Union in the first quarter of 2026 compared with the previous quarter. In the fourth quarter of 2025, employment had grown by 0.2% in both the EU and the euro area.
Compared with the same quarter of the previous year, employment rose by 0.5% in the euro area and by 0.6% across the EU.
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