Eurozone economic growth improved as expected in the first quarter as growth in France and Spain accelerated and Italy expanded, offsetting the weak performance of Germany. Gross domestic product of the 19-nation bloc expanded 0.4% sequentially in the first quarter, slightly faster than the 0.3% growth seen in the fourth quarter of 2014, flash estimates published by Eurostat showed Wednesday.
The growth rate matched economists’ expectations. A similar rate was last seen in the second quarter of 2013. The decline in oil prices, weak euro and European Central Bank’s stimulus underpinned the recovery. Year-on-year, economic growth improved to 1%, in line with economists’ forecast, from 0.9% in the fourth quarter. […]
The European Commission said in its Spring Forecast that growth in the European Union is benefiting from positive economic tailwinds. Eurozone is forecast to grow 1.5% this year and 1.9% in 2016. Click here to read more.