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Japan's economy grows at 3.3 per cent annual pace in first quarter
Summary from the United Kingdom, from articles in English
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A spectacular leap in Germany's growth fuelled a sharp acceleration in the eurozone economy in the first quarter, despite the credit crisis, but failed to quell fears that Europe will soon succumb to the global downturn. (article 1)
In Germany, Europe's biggest economy, business investment spending climbed fivefold from levels at the end of last year. (article 1)
Economists hailed Germany's performance as its economy leapt ahead, with GDP growth more than doubling from last year's final quarter to a 12-year high of 1.5 per cent, twice the pace that analysts had predicted. (article 1)
Growth in France also doubled, to 0.6 per cent in Q1, from 0.3 per cent in the previous three months, driven by a stronger export performance, as well as its own booming levels of business investment. (article 1)
Behind upbeat data yesterday were worrying signs of consumer demand across the eurozone being sapped by the soaring cost of living, triggered by rising food and energy costs. (article 1)
Gross domestic product (GDP) rose by 0.7% from the previous quarter in the 15 nations using the euro, compared with the 0.5% growth analysts expected. (article 2)
Separately, Eurostat confirmed that eurozone inflation in April slowed to 3.3% year-on-year from March's record figure of 3.6%. (article 2)
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Event tracking:
Story keywords
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cent, growth, quarter, inflation, slowdown |
Source articles
- Eurozone growth fails to halt fear of effects from global downturn (business.timesonline.co.uk, 05/16/2008, 698 words)
- Euro growth better than expected (BBC News, 05/15/2008, 135 words)
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blaster@cs.columbia.edu
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