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Eurozone GDP up by 0.4%

Wednesday, May 13 2015
Seasonally adjusted GDP rose by 0.4% in both the euro area (EA19) and the EU28 during the first quarter of 2015, compared with the previous quarter. Rise by 0.5% was anticipated. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.0% in the euro area and by 1.4% in the EU28 in the first quarter of 2015, after +0.9% and +1.3% respectively in the previous quarter. 
 
Earlier today, Italian GDP data was released. Gross domestic product rose 0.3% from the previous quarter, when it stagnated. Analysts were forecasting growth by 0.2%. Decline in the euro exchange rate and in oil price supported the economic growth in the first quarter.
 
After the data euro fell and is currently being traded few points below 1.1210 level. Pair is likely to find support at 1.1150 area and resistance above 1.13 handle. Later today, in the US session, Retail Sales figures are scheduled for a release.
More in this category: « UK unemployment rate at the lowest level since 2008 BoE cut its growth forecasts »

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