The economical growth of the Euro zone slowed in the first quarter of this year and industrial output in March was weaker than expected, data from the European Union’s statistics office Eurostat has showed.
The Eurostat said on Tuesday that its earlier preliminary flash estimate that gross domestic product (GDP in the 19 countries that share the euro rose 0.4 per cent quarter on quarter in the Q1 slowing from 0.7 per cent in the previous quarters.
Year-on-year, euro zone GDP grew 2.5 per cent, in line with the preliminary estimate and down from 2.8 per cent in the fourth quarter of 2017 and 2.7 per cent in the third quarter, reports Reuters.
The Eurostat also said that industrial production rose 0.5 per cent month-on-month in March, falling short of market expectations of a 0.7 per cent rise.
Year-on-year, the production increased 3.0 per cent in March against expectations of a rise of 3.7 per cent, said the report.
February output numbers were revised down as well to -0.9 per cent month-on-month from -0.8 and to 2.6 per cent year-on-year from 2.9 per cent.