Euro area expands 0.5% in the first quarter

Euro area expands 0.5% in the first quarter

The euro area reported an expansion of 0.5 percent in the first three months of this year, according to the flash reading released on Tuesday.

The 19-nation region grew in line with analysts’ forecasts and similar to the same expansion pace of the previous three months.


Another data by the ZEW Center for European Economic Research showed that the index of investor and analyst expectations in Germany edged up to 20.6 in May from 19.5 in April. Analysts had predicted a rise to 22.3.

ZEW economic sentiment for the euro area surged to 35.1 from the previous of 26.3, compared to forecasts of 29.1.

As of 09:16 GMT, the euro traded higher for a third straight session versus the U.S. dollar at 1.1031, easing gains after hitting a high of 1.1048.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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