Eurozone economic recovery confirms increased from … – Daily Mail

The recovery was confirmed in the euro zone, although in the first quarter its leading economy, Germany, was stopped while Spain was the highest growth among the big countries.

Growth economic in the Eurozone was 0.4% in the first quarter of this year, after rising 0.3% in the fourth quarter of 2014, said Wednesday the European statistics office, Eurostat. The euro area had closed last year with a growth of 0.9%.

This is the highest rate of GDP growth in the euro area since early 2011, recalls Marco Valli of Unicredit bank, with an overall improvement in the major economies of the region, with the exception of Germany (+ 0.3% only), the traditional economic engine of the region.

Meanwhile, Spain (+0.9 %) had the second highest growth in the 19 countries of the euro zone, only surpassed by Cyprus (+ 1.6%). Spain is the fourth largest economy in the eurozone.

The GDP of France, second largest economy -which block during 2014 registered a growth átono– also exceeded in the first quarter to Germany, registering 0.6 % expansion, double that of the first European economy.

The slowdown in Germany is due to a lower constribución of its foreign trade, so far pillar of growth in the country, analysts say.

Eurostat gives no details on the components of this growth in the euro area, but “it is clear that is linked to the strengthening of domestic demand,” said Howard Archer of IHS Global Insight.

Also recovery “benefited from the fall in oil prices, a weaker euro and stimulate the economy of the European Central Bank (ECB),” he added.

In the same vein, Peter Vanden Houte at ING, agrees that the economic expansion is “mainly to domestic demand” should, as “consumption benefited from the fall in oil prices,” while “the weakness of the euro favored exports “.

” Growth is clearly spreading in the Eurozone, “he said.

Meanwhile, the Italian economy, the third block, getting off in the first quarter out of a recession. It grew by 0.3%, after 0.0% in the previous quarter.

The news is less encouraging for Greece, immersed in a complicated negotiation with your creditors to get a crucial financial backing. GDP contracted 0.2% in the first quarter after falling 0.4% the previous quarter.

This -after relapse of returning the country to grow in 2014, started in the last quarter last year, when GDP fell 0.4% from the previous quarter.

Greece is experiencing a period of uncertainty associated with these negotiations between his leftist government and its creditors and European partners for more funds in exchange for reforms.

According to Jonathan Loynes of Capital Economics, the Greek crisis difficult recovery in the euro area and could continue to weigh on growth if the situation degenerated.

Finally, for the whole European Union of 28 countries, GDP expanded 0.4% in the first three months of the year. The same quarter last year had marked a growth of 1.4%.

By way of comparison in the first quarter of this year, US GDP expanded 0.1%.