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| Germany's economy grew 1.5% in the first quarter | Germany's economy grew 1.5% in the first quarter |
| (about 1 hour later) | |
| Germany's economy grew by 1.5% in the first three months of 2011 compared with the previous quarter, much faster than had been expected, according to official figures. | Germany's economy grew by 1.5% in the first three months of 2011 compared with the previous quarter, much faster than had been expected, according to official figures. |
| Also on Friday, France announced growth of 1% in the same period, its fastest rate since the second quarter of 2006. | Also on Friday, France announced growth of 1% in the same period, its fastest rate since the second quarter of 2006. |
| Spain's growth was better than expected at 0.3%, but it is still lagging behind Germany and France. | |
| All of the eurozone countries are due to report GDP figures on Friday. | All of the eurozone countries are due to report GDP figures on Friday. |
| Figures earlier in the week showed that German exports and imports had both risen to their highest monthly level since records began in 1950. | Figures earlier in the week showed that German exports and imports had both risen to their highest monthly level since records began in 1950. |
| 'Very confident' | 'Very confident' |
| Germany's GDP figures from Destatis showed that domestic demand had been one of the strongest drivers of growth. | |
| Germany's growth figures were "fantastic", according to Christian Schulz at Berenberg Bank. | Germany's growth figures were "fantastic", according to Christian Schulz at Berenberg Bank. |
| "Consumption will become more and more the engine of growth in the future, since unemployment is dropping starkly," he said. | "Consumption will become more and more the engine of growth in the future, since unemployment is dropping starkly," he said. |
| "France also expanded robustly. The eurozone core remains the anchor for the entire currency union." | "France also expanded robustly. The eurozone core remains the anchor for the entire currency union." |
| France's economy minister Christine Lagarde said she was now "very confident that the (government) forecast of 2% growth for 2011 can be met". | France's economy minister Christine Lagarde said she was now "very confident that the (government) forecast of 2% growth for 2011 can be met". |
| She added that the manufacturing sector had been a particularly strong driver of growth in France. | She added that the manufacturing sector had been a particularly strong driver of growth in France. |