The euro zone economy is having robust growth that
outstripped that of the United States and set the stage for a strong
2017, preliminary estimates show.
The gross domestic product of the 19-country euro
zone bloc grew by 0.5 percent on the quarter in the first quarter, which
translates to annualized growth of 1.8 percent in all of 2017, the
European statistics agency Eurostat said.
The
preliminary euro zone figure is much higher than the 0.7 percent
annualized growth recorded in the United States in the same quarter, the
weakest performance since the first quarter of 2014, according to U.S.
estimates.
The weaker performance of the U.S.
economy was a blow for the administration of Donald Trump, who has
promised strong growth with a protectionist agenda.
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