Eurozone Economy Expands Modestly In Q1
By Pan Pylas |
May 13, 2010, Thursday
|
Print Edition
Print Edition
THE economy of the 16 countries that use the euro grew modestly during the first quarter of this year, despite a further big drop in output in debt-laden Greece.
The economy grew by 0.2 percent in the first three months of the year from the previous quarter, EU statistics agency Eurostat said yesterday.
The modest rise follows zero growth in the fourth quarter of 2009 and highlights how slowly the EU is emerging from recession as it struggles to contain a government debt crisis that has shaken confidence in the euro currency.
The tepid recovery contrasts with that of the United States, which saw output rise by a quarterly rate of 0.8 percent in the first quarter, according to Eurostat.
Germany, the eurozone's biggest economy, saw output rise by 0.2 percent, while France, the second-largest, grew by 0.1 percent. Italy returned to growth with a 0.5 percent quarterly rise.
The economy grew by 0.2 percent in the first three months of the year from the previous quarter, EU statistics agency Eurostat said yesterday.
The modest rise follows zero growth in the fourth quarter of 2009 and highlights how slowly the EU is emerging from recession as it struggles to contain a government debt crisis that has shaken confidence in the euro currency.
The tepid recovery contrasts with that of the United States, which saw output rise by a quarterly rate of 0.8 percent in the first quarter, according to Eurostat.
Germany, the eurozone's biggest economy, saw output rise by 0.2 percent, while France, the second-largest, grew by 0.1 percent. Italy returned to growth with a 0.5 percent quarterly rise.
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