Eurozone beats growth expectations
by Phillip Inman Economics correspondent from on (#1GD1P)
EU statistics estimate annual GDP growth at 1.7% with higher average quarterly rise rise outstripping UK
The eurozone's reputation as the laggard of the global economy appeared to be overly pessimistic, after revised figures showed annual GDP growth in the currency bloc edged higher to 1.7%.
Eurostat, the official data agency for the European Union, showed that GDP growth in the first quarter was 0.6%, after being trimmed to 0.5% in an earlier estimate, pushing the annual growth rate up from the previous estimate of 1.6%.
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