Euro area: solid growth at the beginning of the year

First quarter GDP was up 0.4%qoq, a bit stronger than consensus expectations of 0.3%. No breakdown in to demand components is available at this stage. Judging from country figure s that have been released and monthly indicators, it seems that the strength of domestic demand was supporting growth in the euro area . Looking ahead, we expect again a small moderation in growth. That said, today’s numbers also show that the underlying growth momentum in the euro area – after a quite weak H2:2018 – has picked up again.