Euro area Q1 growth boosted by exports and consumption

Zurich

FIRST-QUARTER growth in the euro area was driven by exports and private consumption.

Gross domestic product rose 0.4 per cent in the three months through March after expanding a revised 0.4 per cent in the previous three months, the European Union's statistics office in Luxembourg said on Tuesday, confirming a May 13 estimate. Household consumption increased 0.5 per cent, investment climbed 0.8 per cent and exports were up 0.6 per cent.