Euro Area GDP Growth Revised Down to 0.5%


The Eurozone economy expanded 0.5 percent on quarter in the first three months of 2016, lower than a preliminary estimate of a 0.6 percent growth. It is still the fastest growth in a year as Germany, France and Italy accelerated while Greece and Latvia contracted.

Among countries for which data is available, Germany (0.7 percent from 0.3 percent in Q4 2015), France (0.5 percent from 0.3 percent in Q4 2015), Italy (0.3percent from 0.02 percent in Q4 2015), Cyprus (0.9 percent from 0.4 percent in Q4 2015), Lithuania (0.8 percent from 0.5 percent in Q4 2015), the Netherlands (0.5 percent from 0.3 percent in Q4 2015), Austria (0.6 percent from 0.2 percent in Q4 2015), Slovakia (1.7 percent from 1 percent in Q4 2015) and Finland (0.4 percent from 0.2 percent in Q4 2015) grew at a faster pace and Spain GDP growth remained robust at 0.8 percent. 

In contrast, Belgium (0.2 percent from 0.5 percent in Q4 2015), Estonia (0 percent from 0.9 percent in Q4 2015) and Portugal (0.1 percent from 0.2 percent in Q4 2015) slowed while Greece came back to contraction (-0.4 percent from 0.1 percent in Q4 2015) and Latvia shrank 0.1 percent (-0.4 percent in Q4 2015).

Year-on-year, the Eurozone economy expanded 1.5 percent, slowing from a 1.6 percent expansion in the previous quarter and preliminary estimates of a 1.6 percent growth.

Considering the European Union, the GDP grew 0.5 percent on quarter and 1.7 percent on the year, unchanged from preliminary estimates. Hungary (-0.8 percent) and Poland (-0.1 percent) showed contractions.

Euro Area GDP Growth Revised Down to 0.5%


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
5/13/2016 10:23:05 AM