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Euro zone Q1 GDP rises 0.5%, in line with forecasts

Published 05/03/2017, 05:02 AM
Updated 05/03/2017, 05:02 AM
© Reuters. Euro zone Q1 GDP increased 0.5% as expected

Investing.com – Gross domestic product (GDP) in the euro zone rose as expected in the first quarter, according to preliminary official data released on Wednesday.

In a report, Eurostat said that GDP rose a seasonally adjusted 0.5%, matching growth registered in the preceding quarter and in line with consensus forecast.

Year-on-year, GDP in the single currency bloc rose 1.7% in the first quarter, matching the consensus estimate and compared to an expansion of 1.8% in the final three months of 2016.

After the release of the GDP data, EUR/USD traded at com 1.0911 compared to 1.0913 ahead of the report, while EUR/GBP was at 0.8445 from 0.8444 earlier.

Meanwhile, European stock markets were trading lower. The Euro Stoxx 50 dropped 0.14%, Germany's DAX fell 0.20%, France’s CAC 40 lost 0.28%, while London’s FTSE 100 traded down 0.31%.

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