BREAKING NEWS
This content is not available in your region

Euro zone economy accelerates in first quarter as Germany rebounds

Euro zone economy accelerates in first quarter as Germany rebounds
FILE PHOTO: The stand of German car manufacturer Audi is reflected in the ceiling during a media preview day at the Frankfurt Motor Show (IAA) September 11, 2013. REUTERS/Kai Pfaffenbach   -   Copyright  Kai Pfaffenbach(Reuters)
Text size Aa Aa

BRUSSELS (Reuters) – The euro zone economy accelerated quarter-on-quarter in the first three months of the year, the EU’s statistics office confirmed on Wednesday, thanks to a rebound in the biggest economy Germany and the end of a technical recession in Italy.

Eurostat said the economy of the 19 countries sharing the euro expanded by 0.4% quarter-on-quarter in the January-March period, the same as its initial estimate, after 0.2% growth in the last three months of 2018.

Year-on-year, the euro zone grew by 1.2% in the first quarter, also as previously estimated, the same rate as at the end of last year.

The quarterly acceleration was mainly thanks to Germany, which rebounded to 0.4% growth from zero growth in the previous three months.

Italy also helped as it rallied from a technical recession of two consecutive quarters, when its economy contracted each time by 0.1%. It expanded by 0.2% in the first quarter of 2019.

(Reporting By Jan Strupczewski; editing by Philip Blenkinsop)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.