Sharp dip in oil prices boosts euro region's Q1 growth

Frankfurt

EURO area growth quickened in the first quarter as stronger-than-predicted performances from France and Italy made up for weaker momentum in Germany.

Gross domestic product in the region rose 0.4 per cent in the first three months of the year after expanding 0.3 per cent in the previous three months, the European Union's statistics office in Luxembourg said on Wednesday. That's in line with the median of 42 estimates in a Bloomberg survey. Greece fell back into recession.

The euro region economy benefited from the sharp drop in oil prices since the second half of 2014, a weaker currency and a boost to confidence from the prospect of more European Central Bank (ECB) stim…