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Euro zone Q1 GDP grows 0.2%, below forecasts for 0.4%

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Investing.com -

Investing.com - The euro zone's economy grew less-than-expected in the first three months of the year, underlining concerns over the region's economic outlook, official preliminary data showed on Thursday.

In a report, Eurostat said that the euro zone's gross domestic product grew by a seasonally adjusted 0.2% in the first quarter, below expectations for growth of 0.4% and unchanged from growth of 0.2% in the preceding quarter.

Year-on-year, euro zone GDP increased at an annualized pace of 0.9% compared to a year earlier, below expectations for growth of 1.1% and after expanding at a rate of 0.5% in the previous quarter.

Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.3673.

Meanwhile, European stock markets remained lower. The Euro Stoxx 50 declined 0.35%, France's CAC 40 dipped 0.3%, London's FTSE 100 shed 0.15%, while Germany's DAX slumped 0.25%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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