AFP, Brussels :
The eurozone economy expanded by 0.4 percent in the first quarter, official EU data showed Wednesday, with a surprising performance by France where growth exceeded powerhouse Germany’s.
The official Eurostat agency’s first estimate for the January-March period in the 19-nation eurozone was in line with analyst expectations, and was up from 0.3 percent growth in the fourth quarter of 2014.
The eurozone has “benefitted from sharply lower oil prices, a weakened euro and increasing ECB stimulus,” said Howard Archer, Chief European Economist at IHS Global Insight.
“All of the major eurozone economies saw improved economic performances in the first quarter except for Germany,” he said.
Growth slowed in Germany, Europe’s biggest economy, to 0.3 percent in the first quarter of 2015.
At the same time, French growth picked up to a vigorous 0.6 percent from zero growth at the end of last year.
The Italian economy edged its way further out of recession with stronger than expected 0.3 percent growth.
The eurozone economy expanded by 0.4 percent in the first quarter, official EU data showed Wednesday, with a surprising performance by France where growth exceeded powerhouse Germany’s.
The official Eurostat agency’s first estimate for the January-March period in the 19-nation eurozone was in line with analyst expectations, and was up from 0.3 percent growth in the fourth quarter of 2014.
The eurozone has “benefitted from sharply lower oil prices, a weakened euro and increasing ECB stimulus,” said Howard Archer, Chief European Economist at IHS Global Insight.
“All of the major eurozone economies saw improved economic performances in the first quarter except for Germany,” he said.
Growth slowed in Germany, Europe’s biggest economy, to 0.3 percent in the first quarter of 2015.
At the same time, French growth picked up to a vigorous 0.6 percent from zero growth at the end of last year.
The Italian economy edged its way further out of recession with stronger than expected 0.3 percent growth.
