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Eurozone GDP Growth Doubles In Q1

Eurozone's quarterly economic growth rate doubled in the first three months of the year, topping economists' expectations, preliminary flash data from the statistical office Eurostat showed on Tuesday.

Gross domestic product grew 0.4 percent from the fourth quarter of 2018, when the euro area economy expanded 0.2 percent.

Economists had forecast 0.3 percent growth for the first quarter.

The pace of growth was the strongest since the second quarter of 2018, when the economy expanded at the same rate.

On a year-on-year basis, GDP rose 1.2 percent in the first quarter, same as in the previous three months. Economists were looking for 1.1 percent expansion.

In the EU28, the quarterly pace of GDP growth improved to 0.5 percent from 0.3 percent. The year-on-year growth rate was steady at 1.5 percent.

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