FXStreet (Mumbai) – An early release of the official data confirmed the Eurozone first quarter growth rate at 0.4% quart-on-quarter in line with the estimates.
The year-on-year growth was also confirmed in line with estimates at 1%.
Growth boosted by Exports and Household Consumption
Quarter-on-Quarter Household consumption increased 0.5%, investment climbed 0.8% and exports were up 0.6%. the increase in exports and household consumption appears to be a net effect of a drop in oil prices and a weak Euro.
As per the latest ECB forecast, GDP in 2015 is seen at an average 1.5%.
(Market News Provided by FXstreet)