Euro Area GDP Growth at 0.4% in Q1

The Eurozone economy advanced 0.4 percent in the first three months of 2015, up from a 0.3 percent growth in the previous period. It is the biggest gain in seven quarters, preliminary estimates showed.

The growth received a boost from the strong performance of Italy and France which advanced a better-than-expected 0.3 percent and 0.6 percent respectively while German expansion disappointed at 0.3 percent. 

Among other Eurozone members, Cyprus posted the highest growth rate, advancing 1.6 percent and expanding for the first time in four years. Spain GDP grew 0.9 percent; Slovakia 0.8 percent and Portugal, Latvia and the Netherlands each 0.4 percent. In contrast, Greece and Estonia slipped back into recession contracting 0.2 percent and 1.3 percent respectively and Finland GDP shrank for the second straight quarter by 0.1 percent. 

Considering the European Union, the economy grew 0.4 percent, the same as in the previous period. 

Year-on-year, the GDP rose 1.0 percent in the Euro Area and 1.4 percent in the European Union, up from 0.9 percent and 1.3 percent respectively in the previous quarter.  

Euro Area GDP Growth at 0.4% in Q1

Eurostat | Joana Taborda |
5/13/2015 10:55:11 AM