Euro zone grows more than expected in Q1 after recession
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FILE PHOTO: The skyline of the banking district is seen during sunset in Frankfurt, Germany, April 21, 2024. REUTERS/Kai Pfaffenbach/File Photo
BRUSSELS (Reuters) - The euro zone economy grew by more than expected in the first quarter of 2024, buoyed by a return to growth for Germany and strong expansion in Spain, preliminary data from the European statistics agency Eurostat showed on Tuesday.
Gross domestic product increased by 0.3% quarter-on-quarter for a 0.5% year-on-year rise, compared with market expectations that both would expand by 0.2%.
The fourth quarter GDP figure was also revised down to a negative 0.1% from a previous 0.0%, meaning that the euro zone was in a technical recession in the second half of 2023.
For further details of Eurostat data click on:
http://ec.europa.eu/eurostat/news/news-releases
(Reporting by Philip Blenkinsop)
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