Eurozone economy grows 0.4% in Q1 as expected
by ChemOrbis Editorial Team - content@chemorbis.com
According to a data from the statistical office of the European Union (Eurostat), economic growth in the eurozone was stable at 0.4% in the first quarter of 2015 after the agency revised its growth rate for the last quarter of 2014 to 0.4% from 0.3%.
Higher government and consumer spending as well as a pickup in investment reportedly supported Q1 growth in the region. Government spending rose 0.6% in the first three months after edging up 0.1% in the previous quarter. However, export growth slowed to 0.6% following an increase of 0.8% in the previous quarter while import growth accelerated to 1.2% from 0.8%.
Higher government and consumer spending as well as a pickup in investment reportedly supported Q1 growth in the region. Government spending rose 0.6% in the first three months after edging up 0.1% in the previous quarter. However, export growth slowed to 0.6% following an increase of 0.8% in the previous quarter while import growth accelerated to 1.2% from 0.8%.
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