BRUSSELS, June 8 (Xinhua) -- The gross domestic product (GDP) in the 19-nation Eurozone expanded by 0.6 percent quarter on quarter between January and March, up from the previous estimate of 0.5 percent and marking the highest rate since 2015, according to the bloc's statistics office Eurostat on Thursday.
The revised readings also showed the single currency zone see a yearly GDP growth of 1.9 percent. In the wider 28-country European Union (EU), the GDP increased by 0.6 percent quarter on quarter and 2.1 percent on a yearly basis, said the Eurostat in a statement.
The Eurozone economy grew in first quarter at a faster pace than previously indicated, despite a slowdown in consumer spending, according to a research note of the Capital Economics.
With activity surveys pointing to a pick-up in GDP growth in second quarter, the Eurozone economy is set for a strong 2017, said Jessica Hinds, European Economist at the Capital Economics.
Thursday's readings came before a scheduled meeting of the European Central Bank, which was expected to nudge up GDP forecasts but keep the interest rates unchanged with limited inflationary pressures.
