Eurozone GDP Chugs Along

April 29th, 2016 6:09 am | by John Jansen |

Via the FT:

The eurozone has exceeded economists’ expectations, growing 0.6 per cent at the start of the year – its fastest quarterly pace since the same quarter in 2015.

The figures beat forecasts of 0.4 per cent and means the 19-country bloc has doubled its growth rate from the 0.3 per cent registered at the end of 2015. Annual GDP growth hit 1.6 per cent on the year.

It’s good news for European policymakers who have been forced to ramp up stimulus measures in a bid to revive the economy. The figures show the measures, coupled with low oil prices are finally providing some dividend.

Eurozone GDP also managed to outpace the rest of the EU, which expanded at 0.5pc in the first quarter.

The figures follow two sets of pleasant surprises from the eurozone’s second and fourth largest economies.

French growth hit a better than expected 0.5 per cent, while Spain continued its impressive recovery, expanding 0.8 per cent in the first three months of the year.

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