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Eurozone economy posts modest 0.2pc growth in Q1
04.06.2010
Categories:
Leadership
The Eurozone economy grew by 0.2pc during the first quarter of 2010 when compared with the previous quarter, official figures from the European Commission’s statistical arm Eurostat revealed today.
This compares to growth of 0.1pc in Eurozone gross domestic product (GDP) during the fourth quarter of 2009.
When compared with the first quarter of 2009, seasonally adjusted GDP in the first quarter of 2010 increased by 0.6pc.
Exports helped to drive the Eurozone's Q1 2010 modest economic expansion, Eurostat said, with exports rising by 2.5pc compared to 1.7pc during the previous quarter. However, household spending put a dampener on things, falling 0.1pc during the quarter after posting growth of 0.2pc during the previous quarter.
The latest Eurozone GDP growth figures suggest that the economy of the 16 countries sharing the euro is emerging from recession slowly.
The Eurozone’s modest growth during the first quarter is left in the shade by the far more robust economic expansion of 0.8pc reported by the US during the first quarter. The world’s second-largest economy Japan also steamed ahead in contrast to the Eurozone, posting Q1 economic growth of 1.2pc.
Categories:
Leadership