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Euro zone growth revised up to highest rate in a year in first quarter

EURUSD News by Newsroom on 05:46 June 08, 2017 EST
Gross domestic product rose by 0.6% above 0.5% estimated previously. GDP had advanced 0.5% in the fourth quarter of 2016.

On a yearly basis, GDP grew 1.9% from 1.7%.

Household spending was up by 0.3% from prior three months, lower than the 0.4% increase seen a quarter ago. But the increase in government spending rose to 0.4% from 0.3%.

Gross fixed capital formation rose at a weaker pace of 1.3% following a 3.4% rise in the fourth quarter.

Exports expanded by 1.2% versus 1.7% increase in the previous quarter. At the same time, imports grew 1.3% compared to 3.8% rise in the previous quarter.