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The Euro Area has reported Gross Domestic Product (GDP) growth for the first quarter of 0.5%, marginally short of economists’ consensus estimates of 0.6% quarter on quarter. Annual growth was 1.5%, slightly below expectations of 1.5%.
Germany and Spain were among the better performing larger Eurozone economies, with 0.7% and 0.8% growth quarter-on-quarter, respectively. Greece reported the largest economic contraction within the Euro Area of 0.4% quarter-on-quarter.
Summary of first quarter 2016 GDP for the larger Euro Area contributors: