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World markets  |  June 08, 2011 16:23:41

Eurozone economy grew at 0.8% 1Q

GDP grew seventeen euro area in Q1 by 0.8%, faster than 0.3% in Q4 and 0.4% in 3Q 2010, confirmed the refined estimate by Eurostat. Consumption expenditure grew by 0.3%, as in the previous quarter, government final consumption increased by 0.8%, following a decline of 0.1% in 4Q. Capital expenditure increased by 2.1%, after stagnation in Q4, exports of goods and services grew by 1.8% and imports jumped 1.9%. Compared with the euro area economy expanded by 2.5% and followed a revised 1.9% growth in 4Q 2010th

Europe's biggest economy Germany in Q1 expanded by 1.5% yoy and 4.8% of GDP for France and 1.0% year on year by 2.2%, Italy GDP only by 0.1% year-on-1, 0% of GDP for Spain and 0.3% year on year0.8%. Portugal and Denmark slid into recession. Portuguese economy fell 0.7% and -0.6% followed in Q4 the 2010th Denmark GDP fell by 0.5%, after -0.2% in Q4. Data from Ireland was available again, the Greek economy grew by a surprisingly 0.8% from Q3 for the first time the 2008th

Gross domestic product throughout the European Union in the first quarter grew by 0.8% yoy and 2.5%, in line with preliminary estimates. For comparison, the U.S. economy grew, expanded by 0.5% and 2.3% year on year, the Japanese economy fell by 0.9% and 0.7% year on year.

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