Europe’s economy is picking up the pace and the outlook has improved considerably. According to figures published by Eurostat on 16 May, eurozone GDP increased by 0.5% in the first quarter, which is a faster rate of growth than the 0.2% reported for the US (infographic 1). Indications are for further acceleration in the second quarter.
INFOGRAPHIC 1: THE OUTLOOK HAS BRIGHTENED
Eurozone GDP has increased by an annualised rate of 2%. This rate of growth is faster than the annualised 0.7% reported for the US.