According to a flash estimate released today by Eurostat, the euro zone saw its economy accelerate to 5%, a figure that compares with the rise of 0.2% in the same quarter of the previous year and 4.7% in the last three months of 2021.

The EU's GDP growth, for its part, also accelerated in the first quarter to 5.2%, compared to 0.4% a year earlier and 4.9% in the previous period.