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Financial News: Eurozone Q1 GDP Rises More Than Estimated

Eurozone Q1 GDP Rises More Than Estimated

06/08/2017 - 05:17:00 (RTTNews)

(RTTNews) - The euro area economy expanded more than initially estimated in the first quarter, data from Eurostat showed Thursday.

Gross domestic product climbed 0.6 percent sequentially instead of 0.5 percent estimated previously. GDP had advanced 0.5 percent in the fourth quarter of 2016.

On a yearly basis, GDP growth was raised to 1.9 percent from 1.7 percent.

The expenditure-side breakdown of GDP showed that household spending climbed 0.3 percent from prior three months, slower than the 0.4 percent increase seen a quarter ago. Meanwhile, the increase in government spending rose to 0.4 percent from 0.3 percent.

Gross fixed capital formation rose at a weaker pace of 1.3 percent following a 3.4 percent rise in the fourth quarter.

Exports climbed 1.2 percent versus 1.7 percent increase in the fourth quarter. At the same time, imports grew 1.3 percent compared to 3.8 percent rise in the previous quarter.

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