Technicals

FXstreet.com (Barcelona) - Euro Zone's economic growth in the first three months of the year has been revised down from the previous estimation, yet the quarterly growth has been substantially higher than that on the last quarter of 2007, as the latest report by Eurostat shows.

According to the second estimations, Euro Zone's GDP growth has accelerated to a 0.7% growth in the first three months of the year, from the 0.4% growth posted in the last three months of last year, despite having been revised down from the 0.8% increase estimated previously.

Year on year, GDP has grown 2.1%, down from the 2.2% previously estimated, and unchanged from the 2.1% yearly growth posted from October to December 2007.

Down to components, household consumption increased 0.2% in the first quarter, after a 0.1% decline in the previous quarter, investment grew 1.6%, it was 1.1% up in the previous quarter, exports rose 1.9% and imports were 2.0% up, after 0.4 and -0.2 respectively in the previous quarter.