The Eurozone quarterly economic growth was confirmed at 0.4 percent in the first quarter of 2019, above the previous three-month period's expansion of 0.2 percent. Among the bloc's largest economies, Germany and Italy returned to growth and Spain's economy advanced at faster pace, while France's expansion was unchanged.
Among countries for which data is already available, Germany's GDP increased 0.4 percent in Q1, after being unchanged in the previous period, on the back of strong fixed capital formation and household consumption; while Italian economy advanced 0.2 percent, emerging from its third recession in a decade, due mainly to net exports. Also, Spain's economy grew 0.7 percent, faster than 0.6 percent in the previous three-month period, mainly boosted by a rebound in fixed investment; and GDP growth also accelerated in Portugal (0.5 percent vs 0.4 percent) and Slovakia (0.9 percent vs 0.8 percent).
5/15/2019 9:23:45 AM
Meanwhile, GDP expansion was unchanged for France (at 0.3 percent), the Netherlands (at 0.5 percent) and Austria (at 0.3 percent); while growth slowed for Finland (0.6 percent vs 0.8 percent), Belgium (0.2 percent vs 0.4 percent); Cyprus (0.9 percent vs 1 percent); and Lithuania (1 percent vs 1.4 percent). Latvia's economy shrank 0.3 percent, after growing 1.2 percent in Q4.
Compared with the same quarter of the previous year, the Euro Area economy expanded 1.2 percent in the three months to March, the same pace as in the previous period.
Considering the European Union as a whole, GDP growth picked up to 0.5 percent quarter-on-quarter (vs 0.3 percent in Q4); and was unchanged at 1.5 percent year-on-year.