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1st LD Writethru: Eurozone Q1 GDP growth revised up to 0.6 pct

Xinhua, June 7, 2016 Adjust font size:

The eurozone economy in the first quarter of 2016 grew by 0.6 percent, instead of the 0.5 percent previously estimated, the highest rate for 12 months, said the European statistics agency on Tuesday.

Gross domestic product (GDP) in the 19-member eurozone increased by 0.6 percent month-on-month and by 1.7 percent year-on-year, according to figures released by the European statistics agency Eurostat.

In its initial "preliminary flash estimate" on April 29, the figures were 0.6 percent and 1.6 percent respectively and then were revised down to 0.5 percent and 1.5 percent on May 13 in its "flash estimate."

Household spending was up by 0.6 percent month-on-month, private sector investment grew by 0.8 percent, and government expenditure climbed 0.4 percent.

Exports and imports moved up 0.4 percent and 0.7 percent respectively. Endit