Euro area GDP grows at an annualized rate of 5.1% in Q1 vs. 5% expected
|- Euro area economy grew by 5.1% (YoY) in the first quarter.
- EUR/USD continues to push higher toward 1.0500 after the data.
The data published by Eurostat showed on Tuesday that the seasonally adjusted Gross Domestic Product grew at an annualized rate of 5.1% in the first quarter, compared to the market expectation of 5%.
Further details of the publication revealed that on a quarterly basis, GDP increased by 0.3%. Finally, the Employment Change was up 0.5% in the first quarter as expected.
Market reaction
The shared currency preserves its strength after these data. As of writing, EUR/USD pair was trading at 1.0480, rising 0.5% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.