Q1 2016 Eurozone GDP final data report 7 June 2016

  • Prelim 0.6%

  • 1st revision 0.5%

  • Q4 2015 0.3%

  • 1.7% vs 1.5% prior. Flash 1.6%. Q4 1.6%

  • household consumption 0.6% vs 0.5% exp q/q. Prior 0.2%. Revised to 0.3%

  • Government spending 0.4% vs 0.4% exp q/q. Prior 0.6%. Revised to 0.5%

  • Gross fixed capital formation 0.8% vs 1.1% exp q/q. Prior 1.3%. Revised to 1.4%

  • Exports 0.4% vs 0.7% q/q in Q4

  • 3.1% vs 4.2% prior y/y

  • Imports 0.7% vs 1.4% q/q in Q4

  • 4.3% vs 5.9% prior y/y

  • EU28 states 0.5% vs 0.4% q/q in Q4

  • 1.8% vs 2.0% in Q4 y/y

Spending was the main driver of GDP in the first quarter with both household and private investment leading the way. It's not super strong but a good sign considering the high levels of unemployment and lack of wage growth.

Eurozone GDP y/y