Financial News: Eurozone Economy Recovers In Q1

Eurozone Economy Recovers In Q1

04/30/2024 - 05:35:00 (RTTNews)

(RTTNews) - The euro area economy expanded in the first quarter after two consecutive declines, a preliminary flash estimate from Eurostat showed on Tuesday.

Gross domestic product grew by more-than-expected 0.3 percent on quarter following a 0.1 percent fall each in the fourth and third quarters of 2023.

Thus the economy recovered from a recession. GDP was expected to rise 0.1 percent in the first quarter.

On a yearly basis, GDP growth accelerated to 0.4 percent from 0.1 percent in the previous quarter. This was also better than forecast of 0.2 percent.

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