Q1's euro-zone GDP data confirmed that the currency union expanded by 0.4%, stronger than the performances of the US and UK economies but slightly below consensus.
Although France grew by a solid 0.6% - its biggest quarterly rise since Q2 2013 - Germany managed only a 0.3% gain. Meanwhile, Greece contracted for a second consecutive quarter, and hence fell back into recession, after the brief burst of growth seen last year.
"We continue to expect the euro-zone economy to grow by around 1.5% this year, before growth slows again to 1% or so in 2016 as the beneficial effects of the drop in oil prices and the euro start to fade." notes Capital Economics
