The pace of the euro zone’s economic contraction slowed down quarter-on-quarter in the first three months of this year, the EU’s statistics office confirmed on Wednesday, but retail sales in April pointed to continued weakness in household demand.
The European Union’s statistics office confirmed its earlier estimates that gross domestic product in the 17 countries using the euro fell 0.2 percent quarter-on-quarter in the January-March period, for a 1.1 percent year-on-year contraction.
That came after a 0.6 percent decline in euro zone quarterly output in the previous three months.
via Money MSN
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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