Posted: Thursday, May 15, 2008, 2:38PM
Eurozone bucks trend as GDP growth defies predictions
The eurozone has reported stronger than expected rates of growth, according to the latest figures to come out of the region.
Led by Germany, whose economy grew at its fastest rate in more than a decade, gross domestic product (GDP) in the 15 nations that make up the eurozone rose by 0.7 per cent from the previous quarter.
Figures from Eurostat also confirmed that inflation in the eurozone slowed to 3.3 per cent year-on-year from March’s record figure of 3.6 per cent.
However, Fortis economist, Nick Kounis, told the BBC that the rise in GDP could be a “last hurrah for the eurozone economy”, as a strong euro impacted on exports.
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