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Italy emerges from recession as Eurozone registered stronger-than-expected recovery

cde.news desk · 1 min read
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epa06779732 An Italian parachutist descends with a huge Italian flag towards Rome on occasion of the celebration for Italy's Republic Day, 02 June 2018. The anniversary marks the founding of the Italian Republic in 1946. EPA-EFE/FABIO FRUSTACI

Italy’s economy has emerged from recession as the eurozone enjoyed a stronger-than-expected recovery during the first quarter.

The Telegraph reports that the worst of the eurozone’s economic slump may be over as Italy escaped recession in the first three months of the year, France grew more strongly than expected, and Spain continued its impressive resurgence.

Eurozone GDP grew by 0.4pc in the quarter, double the 0.2pc recorded in the final three months of 2018 and well above the 0.1pc in the previous quarter. It suggests the region may have passed its low ebb without plunging the entire currency area into recession.

GDP growth in the currency bloc accelerated to 0.4pc during the first quarter, up from 0.2pc, as unemployment declined to its lowest level in more than 10 years. The pick-up across the region was led by Italy’s rebound and Spain’s strongest growth in more than a year.

Spain’s recovery continued apace with growth of 0.7pc, outstripping the other major eurozone economies by a considerable margin.

Via The Telegraph 

Topics EconomyEuroEurozoneItaly