Economics
Euro Area Proves Stronger as First-Quarter Growth Revised Up
- Gross domestic product rose 0.6% vs flash estimate of 0.5%
- ECB said to lift projections for growth, cut inflation outlook
ECB Upgrades Risk Assessment to 'Broadly Balanced'
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The euro-area economy grew faster at the start of the year than previously estimated as domestic demand bolstered output.
Gross domestic product in the currency bloc rose 0.6 percent in three months through March, the European Union’s statistics office said Thursday, revising it from 0.5 percent. The expansion was driven exclusively by spending and investment. Trade didn’t contribute to growth.