Eurozone economy falls into decline as reduced Irish GDP sees data revised

The eurozone economy shrank at the start of the year after the contraction of GDP in Ireland forced a revision to data that originally showed feeble growth.

Gross domestic product fell 0.2% between January and March, Eurostat said on Friday, compared to an earlier estimate of 0.1% growth. That’s mainly due to a sharp downward restatement of Irish GDP, which slumped 12.1% rather than the 2% previously measured.

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