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Economic output has grown in Eurozone's first quarter

By Staff Reporter

Published 14/05/2015

Cheap fuel and food prices are responsible for growth in economic output in the eurozone
Cheap fuel and food prices are responsible for growth in economic output in the eurozone

Economic output in the Eurozone grew faster in the first quarter of this year than it has in almost 24 months.

Economists point to cheap fuel and food prices, together with a central bank stimulus package, as reasons for the output boost.

"It is evident that improved growth was due to strengthened domestic demand. Domestic demand was certainly behind the improved growth in France and Italy, and it also reportedly held up reasonably well in Germany," said Howard Archer, economist at IHS Global Insight. Gross domestic profit in 19 countries rose 0.4% quarter-on-quarter for a 1% year-on-year rise. In spite of general growth, however, export-led Germany slowed more than expected as imports rose more sharply than sales abroad.

Belfast Telegraph

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