Economic growth has accelerated markedly in the first quarter in the euro area, catching up after a disappointing end 2010 which is stronger than expected. Based on preliminary estimates released Friday by EU statistics office Eurostat, the gross domestic product (GDP) in the euro zone rose 0.8% on the first three months of the year. For the year, the European Commission confirmed on Friday its forecast for economic growth of 1.6% in the eurozone.
In the first quarter, exceeding the most optimistic forecasts, the growth of the French economy has reached 1%, its best performance in nearly five years. TF1, Francois Fillon noted that the first quarter, French growth was “double the UK and more than twice the growth in the same period in the United States” .
Germany does better. The catch-up effect has been particularly strong: GDP jumped 1.5%, far more than expected by economists, after only 0.4% in the fourth quarter of 2010, said Friday the Federal Office of Statistics. There are less than two years, politicians and economists do not see Germany return to its pre-crisis 2013.
Clearly, the dynamic of 2010, when growth was 3.6%, placing Germany in the European leaders, continues despite the increased risks on the international scene, the crisis debt in the euro zone to the disaster in Japan, through fluctuations in commodity prices. However, Germany has managed to make its economy less dependent on these factors by reducing its dependence on foreign trade.
The Minister of Economy, German Philipp Rösler , stressed that the expansion of the country was gathering pace. “The figures show that the German economy continues to speed” , he wrote in a statement . ‘The recovery continued, showing very strong first quarter. ” The German government has confirmed its forecast of growth for the full year 2011 to + 2.6%. More and more economists believe growth of 3% or more this year.
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