Economic Buzz: Euro Area Economy Grows 2.5% In Q1

The euro area economy expanded as initially estimated in the first quarter, the latest estimate from Eurostat showed today. Gross domestic product (GDP) rose 0.4% sequentially in the first quarter, slower than the 0.7% expansion seen a quarter ago. The rate came in line with the estimate released on May 15. On a yearly basis, GDP growth slowed to 2.5% from 2.8% a quarter ago. Gross fixed capital formation advanced 0.5% following the 1.3% gain seen in the prior period.