Eurozone economy gets strong start

Posted by BankInfo on Thu, May 04 2017 08:31 am

The EU’s Eurostat statistics agency said growth in the eurozone landed at 0.5% in the first quarter of 2017, the same as the previous quarter and on par with analyst forecasts

Growth in the eurozone remained resilient in the first quarter of 2017 as the economy continued to brush off the unknowns of Brexit and a high stakes election in France, data showed on Wednesday.

The fresh data lent credence to a survey last month suggesting the eurozone economy is growing at its fastest pace since it emerged from the worst of the financial crisis six years ago.

The economy “is proving to be resilient to uncertainty both abroad and at home. Bar a surprise at the French elections on Sunday, eurozone growth is set for a strong 2017,” said ING economist Bert Colijn.

The EU’s Eurostat statistics agency said growth in the eurozone landed at 0.5% in the first quarter of 2017, the same as the previous quarter and on par with analyst forecasts.

The eurozone economy has seen a steady period of growth, expanding by 1.7% in 2016.

That was faster than the United States’ growth rate of 1.6% last year.

The IMF forecasts that the eurozone will maintain the healthy pace in 2017 with annual growth of 1.7%.

Spain was a solid performer in the period from January to March, growing by 0.8% as the country continues to recover from a damaging crisis marked by sky-high unemployment.

news:dhaka tribune/4-may-2017
Posted in News, Banking

Comments