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العربية
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15 May

By Ahmed Mamdouh

Category: Forex News

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Euro area quarterly growth confirms ease to 0.4%

Euro area gross domestic product for the first quarter confirmed an ease in the pace of expansion in the first quarter after slowdown in major economies.

The 19-nation economy grew 0.4 percent in the first quarter this year, slowing from a robust 0.7 percent expansion recorded in the earlier three months. The second GDP data came in line with both flash and predicted readings.

On the annual basis, the euro area growth also eased to 2.5 percent from a prior of 2.8 percent.

Another report released today showed that Germany’s ZEW investor confidence stood at -8.2 this month, compared to forecasts of -8.0.

The same gauge in the euro area rose to 2.4 from 1.9 in April, coming above analysts’ projections of 2.0.

As of 09:19 GMT, the euro continued to trade slightly lower at 1.1925 versus the green currency, after retreating from yesterday’s peak at 1.1996.

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Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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