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Euro zone getting fitter?

Tuesday, June 07, 2016 - 01:01

The euro zone economy grew by 0.6 percent in the first quarter of 2016, the highest rate for 12 months. As David Pollard reports, it was supported by household spending and private sector investment.

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Euro 2016 - a continent becomes transfixed by football. But as its top teams prepare for battle, the economy apparently getting fitter too. Latest data shows a 12-month high - growth confirmed at 0.6 per cent in the first quarter. German industrial output rising slightly more than expected in April. And Spain's also surprising to the upside. Manufacturing, according to one economist, the proverbial canary in the coal mine. SOUNDBITE (English) CHIEF ECONOMIST, WORLD FIRST, JEREMY COOK, SAYING: "It's not singing too brightly at the moment, but it's certainly not dead. We need it to brighten up before we can start creating inflation, before Mario Draghi and the rest of the European Central Bank sit there and say 'yes, actually maybe the stimulus is really starting to have an effect.'" And for others, there is less to celebrate. Italy's central bank has revised its growth forecast for this year down to 1.1 per cent because of global worries. And Brexit fears dampening the mood - Europhiles talking of a British departure from the EU as the very definition of a euro zone own goal.

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Euro zone getting fitter?

Tuesday, June 07, 2016 - 01:01