India, April 30 -- The euro area economy expanded in the first quarter after two consecutive declines as all big four economies exhibited better performance, boosting hopes of a sustained recovery this year.
Gross domestic product grew by a faster-than-expected 0.3 percent sequentially following a 0.1 percent fall each in the fourth and third quarters of 2023, preliminary flash estimates from Eurostat showed.
GDP was expected to rise only by 0.1 percent in the first quarter. Thus the single currency economy recovered from a technical recession that is defined as two consecutive quarters of negative growth. On a yearly basis, GDP growth accelerated to 0.4 percent from 0.1 percent in the previous quarter. This was also better than the forec...