The Eurozone economy grew 0.4 percent on quarter in the three months to March 2019, accelerating from a 0.2 percent expansion and beating market expectations of 0.3 percent, a flash estimate showed.
Among countries for which data is already available, Spain's economy grew by a steeper than expected 0.7 percent in the first quarter of 2019, faster than 0.6 percent in the previous three-month period, mainly boosted by a rebound in fixed investment. Meanwhile, French GDP expansion was unchanged at 0.3 percent; while growth slowed for Austria (0.3 percent vs 0.4 percent); Belgium (0.2 percent vs 0.4 percent); and Lithuania (1 percent vs 1.4 percent). Germany, the biggest economy in the Euro Area, is expected to release preliminary GDP estimates in two weeks.
Compared with the same quarter of the previous year, the Euro Area economy expanded 1.2 percent in the three months to March, the same pace as in the previous period and slightly above market consensus of 1.1 percent.
Considering the European Union as a whole, GDP growth picked up to 0.5 percent quarter-on-quarter (vs 0.3 percent in Q4); and was unchanged at 1.5 percent year-on-year.
4/30/2019 9:23:20 AM