This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-36284549

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
German economic growth best for two years Eurozone growth estimate revised down a notch
(about 2 hours later)
Germany more than doubled its economic growth rate in the first quarter of the year according to official figures. The official second estimate of eurozone growth has been revised down slightly from 0.6% to 0.5% in the first quarter of the year.
It grew by 0.7% between January and March, according to the federal statistics office, Destatis, compared with 0.3% in the final quarter of 2015. The data, from the Eurostat agency, also revised the annual GDP estimate down a touch to 1.5% from 1.6%.
Annual growth in the eurozone's largest economy was estimated at 1.3% compared with a year ago, However, the agency said that the vast majority of the 19-country bloc that uses the euro saw higher growth.
The figures come ahead of the release of a new estimate for first quarter GDP for the eurozone as a whole. Only Latvia and Greece saw growth fall. Germany, the biggest economy, more than doubled its growth rate.
It grew by 0.7% between January and March, compared with 0.3% in the final quarter of 2015.
Annual growth was estimated at 1.3% compared with a year ago.
Germany's trade surplus shrank after imports grew more quickly than exports over the period thanks to strong domestic demand.Germany's trade surplus shrank after imports grew more quickly than exports over the period thanks to strong domestic demand.
Destatis said that both private households and the German government increased their spending and investments were also higher.Destatis said that both private households and the German government increased their spending and investments were also higher.
Mild weather helped to increase construction.Mild weather helped to increase construction.
The first growth estimate of the 19-nation eurozone bloc showed it as 0.6% stronger in the first three months of the year. Meanwhile, French GDP rose by 0.5% and in Italy, the third largest economy, growth was 0.3%. Spain expanded by 0.8%.
Greece's and Latvia's economies contracted by 0.4% and 0.1% respectively.
Outside the eurozone, Hungary and Poland also shrank in the first quarter.
Warning
The eurozone has been struggling to establish firm growth for years. The president of the European Central Bank chief Mario Draghi warned recently that risks to economic growth remained "tilted to the downside".
He called on European governments to act "more decisively" to boost growth.
It has been trying for years to spur on economic activity by its policy of low or negative interest rates, and a bond-buying programme which sees it buying €80bn in assets every month.
Its main interest rate is now non-existent - having been cut from 0.05% to 0%. Its bank deposit rate is minus 0.4%.
The negative rate means that banks must pay the ECB to park cash - a move intended to encourage more lending to businesses.