Economics

Euro Area Savors Growth Spurt as Italy Shakes Off Its Recession

Regional GDP grew 0.4% in first quarter vs. est. 0.3% increase
Momentum exceeded predictions in Spain, held pace in France

Tourists and pedestrians fill an aisle between food stalls inside Boqueria market in Barcelona, Spain.Photographer: Pau Barrena

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By Carolynn Look

April 30, 2019 at 9:00 AM UTC

Updated on

April 30, 2019 at 10:15 AM UTC

This article is for subscribers only.

Europe’s economy began 2019 with an unexpected growth spurt as Spain outperformed and Italy shook off a recession, easing pressure on the European Central Bank to add stimulus.

The 0.4 percent increase in euro-region gross domestic product during the first quarter reported by Eurostat was twice the pace at the end of last year and more than economists predicted. Strong investment in Spain, buoyant consumer spending in France and a faster-than-anticipated rebound in Italy gave a fillip to expansion in the 19-nation currency bloc.