Eurozone GDP Rose 0.6% in Q1

The eurozone economy grew faster than expected in the first three months of 2016, but inflation in the single currency bloc has fallen back into negative territory, putting more pressure on the European Central Bank to keep deflation at bay.

Official statistics showed GDP in the 19-nation eurozone rose 0.6% in the first quarter despite a backdrop of turmoil on global markets at the start of the year. It was the fastest growth for a year and twice the pace recorded in the closing quarter of 2015. GDP was up 1.6% on a year earlier.

The quarterly performance beat growth in the UK, which reported a slowdown to 0.4% GDP expansion earlier this week and also outperformed the world’s biggest economy, the US.

via The Guardian

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