Quarterly economic growth slowed in both the euro area and the EU

Euro area economy grows 5 percent year-on-year in first quarter

Euro area GDP growth slowed to 0.2 percent in the first quarter from 0.3 percent in the previous quarter, but year-on-year GDP growth accelerated to 5 percent from 4.7 percent in the previous quarter.

Euro area gross domestic product growth of 0.2 percent in the first quarter is the lowest since exiting last year’s recession and falling short of market expectations of 0.3 percent. (MTI)