Pace picks up in eurozone recovery

The recovery in the eurozone economy has gained momentum since last autumn.

GDP data for the first quarter of 2015 shows that the economy grew by 0.4% for the second consecutive quarter. This was up from 0.1% and 0.2%, in the second and third quarters of last year.

On a year-on-year basis, growth accelerated modestly, from 0.9% to 1% in quarter one. There were also encouraging indications that growth had become geographically ‘broader’ in the first quarter.