Eurozone GDP Marks Fastest Growth Rate Since 2015

Eurozone economic growth in the first quarter of 2017 reached its highest rate in more than a year, according to a final reading released by Eurostat on Thursday. Gross domestic product expanded by 1.9% on a year-over-year basis, the fastest growth since the fourth quarter of 2015. Analysts polled by FactSet had expected 1.7%. Household consumption expenditure and gross fixed capital formation contributed to the expansion, said Eurostat. Quarter-over-quarter, GDP increased 0.6%, higher than a previous estimate of 0.5% from Eurostat.