Euro Area GDP up by 0.8% in Q1

Euro Area GDP increased by 0.8% during the first quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat.

Germany and France powered economic growth in the Euro Area in the first quarter as booming exports fueled domestic spending in the bloc’s core, offsetting turmoil sparked by sovereign debt woes in Greece, Ireland and Portugal. German GDP jumped 1.5% from the fourth quarter and the French GDP rose 1%.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 2.5% in both the euro area and the EU27 in the first quarter of 2011, after +2.0% and +2.2% respectively in the previous quarter.

Euro Area GDP up by 0.8% in Q1, Eurostat
5/13/2011 11:09:07 AM