Economics
France Holds Pace as Spain Posts Fastest Growth Since 2017
- Rebound in French consumer spending supports expansion
- Spanish economy grows 0.7%, exceeding economist estimates
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Economic growth held pace in France and accelerated in Spain to the fastest since 2017, easing pressure on the European Central Bank to ramp up stimulus for the euro region.
French consumer spending, boosted by French President Emmanuel Macron’s tax cuts after the Yellow Vest protests, buoyed the euro area’s second-largest economy enough in the first quarter to repeat its 0.3 percent growth at the end of 2018. Spanish expansion picked up to 0.7 percent, exceeding economists’ estimates.