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Euro zone first-quarter slowdown confirmed, March output weaker than expected

Reuters  |  BRUSSELS 

(Reuters) - zone economic growth slowed in the first three months of the year and industrial output in March was weaker than expected, data from the European Union's statistics office showed on Tuesday.

confirmed its earlier preliminary estimate that in the 19 countries that share the rose 0.4 percent quarter on quarter in the January-March period slowing from 0.7 percent in the previous quarters.

Year-on-year, zone GDP grew 2.5 percent, in line with the preliminary estimate and down from 2.8 percent in the fourth quarter of 2017 and 2.7 percent in the third quarter.

also said that industrial production rose 0.5 percent month-on-month in March, falling short of market expectations of a 0.7 percent rise. Year-on-year, production increased 3.0 percent in March against expectations of a rise of 3.7 percent.

February output numbers were revised down as well to -0.9 percent month-on-month from -0.8 and to 2.6 percent year-on-year from 2.9 percent.

(Reporting By Jan Strupczewski; editing by Philip Blenkinsop)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 14:47 IST