Europe Shows Modest Growth for First Quarter

The economy in the euro area expanded only modestly during the first quarter of the year, as demand in countries like Germany and France remained sluggish despite the recovery in exports.

Gross domestic product expanded by 0.2 percent in both the 16-member euro area and 27-member European Union, compared with the previous three months, according to initial estimates from Eurostat, the statistical office of the European Union.

Compared with the same quarter of the previous year, seasonally adjusted G.D.P. increased by 0.5 percent in the euro area and by 0.3 percent in the full E.U. during the first quarter.

Read Full Article from New York Times

- Posted: 2010-05-12 09:56:24

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