Household spending boosted the Eurozone economic growth rate in the first quarter of the year to the fastest pace in 12 months.
Gross domestic product climbed 0.6 percent sequentially, instead of 0.5 percent estimated on May 13, data from Eurostat showed Tuesday.
Revised growth was also faster than the 0.4 percent growth registered in the fourth quarter of 2015. A similar pace of growth was last seen in the first quarter of 2015.
On a yearly basis, GDP growth held steady at 1.7 percent in the first three months of 2016. The figure was revised up from 1.5 percent reported earlier.
The European Central Bank last week raised its euro area growth forecast for this year to 1.6 percent from 1.4 percent. The projection for next year was retained at 1.7 percent.
ECB Chief Mario Draghi said the risks to the euro area growth outlook remain tilted to the downside, but the balance of risks has improved on the back of the monetary policy measures taken already and the stimulus still in the pipeline.
IHS Global Insight Economist Howard Archer said the clear pick-up in Eurozone GDP growth in the first quarter occurred despite activity seemingly being pressurized by increased global and domestic economic uncertainties, as well as financial market volatility and weakness early on in the year.
The expenditure-side breakdown of GDP showed that sequential growth in household spending doubled to 0.6 percent from 0.3 percent.
Meanwhile, government expenditure climbed at a slightly slower pace of 0.4 percent after rising 0.5 percent. Similarly, investment grew 0.8 percent versus 1.4 percent increase a quarter ago.
Exports and imports moved up 0.4 percent and 0.7 percent, respectively in the first quarter, contributing negatively to GDP growth.
The EU28 GDP climbed 0.5 percent in the first quarter from previous three months and 1.8 percent from the same period of last year.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.