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Eurozone Q1 GDP rises more than estimated

Staff Writer | June 9, 2017
The euro area economy expanded more than initially estimated in the first quarter, data from Eurostat showed.
Euro area GDP
Europe   Exports climbed 1.2%
Gross domestic product climbed 0.6% sequentially instead of 0.5% estimated previously. GDP had advanced 0.5% in the fourth quarter of 2016.

On a yearly basis, GDP growth was raised to 1.9% from 1.7%.

The expenditure-side breakdown of GDP showed that household spending climbed 0.3% from prior three months, slower than the 0.4% increase seen a quarter ago. Meanwhile, 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 climbed 1.2% versus 1.7% increase in the fourth quarter. At the same time, imports grew 1.3% compared to 3.8% rise in the previous quarter.