Eurozone economy rebounds in first quarter, inflation stable in April [Video]

The eurozone economy emerged from recession with greater than expected growth in the first quarter of 2024 and inflation under control, official data showed Tuesday.

The figures are unlikely to stop the European Central Bank (ECB) from cutting interest rates in June as expected, according to economists despite the growth figure.

The EU’s official data agency said growth in the 20-country single currency area reached 0.3 percent in the first three months of the year compared to the previous quarter.

Analysts surveyed by FactSet and Bloomberg had expected growth of 0.1 percent.

But the figures showed the eurozone economy had slipped into a technical recession in the second half of last year after gross domestic product retreated by 0.1 percent in the last two quarters of 2023.

The better-than-hoped-for growth …