Euro Area GDP Growth Confirmed At 0.5% In Q1


The Eurozone economy expanded 0.5 percent on quarter in the first three months of 2017, the same as in the previous period and in line with the preliminary estimate. Growth picked up in Germany and Spain but slowed in France and was steady in Italy.

Among countries for which data is already available, the GDP expanded at a faster pace in Germany (0.6 percent from 0.4 percent in Q4); Spain (0.8 percent from 0.7 percent in Q4); Belgium (0.5 percent from 0.4 percent); Portugal (1 percent from 0.7 percent); Finland (1.6 percent from 0.3 percent) and Latvia (1.5 percent from 1.2 percent). 

Meanwhile, GDP growth slowed in France (0.3 percent from 0.5 percent in Q4); Austria (0.6 percent from 0.5 percent); Netherlands (0.4 percent from 0.6 percent); Cyprus (0.6 percent from 0.7 percent) and Lithuania (1.4 percent from 1.5 percent). In addition, GDP growth was steady in Italy (0.2 percent) and  Slovakia (0.8 percent). The Greek economy contracted for the second quarter (-0.1 percent from -1.2 percent). 

Year-on-year, the Euro Area economy expanded 1.7 percent, easing from a 1.8 percent growth in the previous period and in line with earlier estimates.

Considering full European Union, the GDP growth slowed to 0.5 percent from 0.6 percent in Q4, better than initial estimates of 0.4 percent. Annual growth rate was also revised up to 2 percent from 1.9 percent. 

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
5/16/2017 9:24:32 AM