The Eurozone economy grew 0.4 per cent in the first three months of the year, surpassing expectations, ahead of Donald Trump’s sweeping tariff announcements in early April.
The figure was twice as high as the 0.2 per cent of the previous quarter, according to a flash estimate by Europe’s statistical office Eurostat. Economists polled by Reuters had predicted that GDP growth would remain at that level.
The higher growth was “more appearance than reality”, Commerzbank economists wrote in a note to clients, adding that it was partly driven by one-off effects, including a 3.2 per cent growth spurt in Ireland.
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