Currency bloc beats forecasts but inflation slips back into negative and experts urge against reading too much into dataThe eurozone economy grew faster than expected in the first three months of 2016,but inflation in the single currency bloc has fallen back into negative territory, putting more pressure on the European Central Bank to retain deflation at bay.
Official statistics showed GDP in the 19-nation eurozone rose 0.6% in the first quarter despite a backdrop of turmoil on global markets at the start of the year. It was the fastest growth for a year and twice the pace recorded in the closing quarter of 2015. GDP was up 1.6% on a year earlier.
Lowest unemployment rate in euro area since Aug 2011, or in EU since April 2009 #Eurostat https://t.co/nqLI850gmY pic.twitter.com/mMpQKE9NcVContinue reading...
Source: theguardian.com