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European Economy Loses Thrust in Risk for Global Expansion

  • French growth slows sharply, euro-area confidence unchanged
  • U.S. data showed GDP slowdown was less than expected
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Draghi says growth is set to remain solid, broad-based.Source: European Central Bank
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Europe’s economy lost momentum in the first quarter as expansions slowed from France to the U.K., threatening to undermine the global growth the continent previously helped power.

Figures from across the region pointed to a softer trend in the early part of the year, and U.S. first-quarter data also showed activity weakened in the world’s largest economy. Still, U.S. annualized growth of 2.3 percent beat economists’ estimates that it would slow to 2 percent.