Euro region GDP fell 2.5% in Q1 from last quarter, the fastest contraction on record, and shrank...

|By:, SA News Editor
Euro region GDP fell 2.5% in Q1 from last quarter, the fastest contraction on record, and shrank 4.6% vs. a year ago, also the biggest drop on record. Inflation held steady at 0.6% in April. On May 7, the ECB lowered its benchmark rate to 1%, a level economists expect will be maintained, or even trimmed further. (see Eurostat's GDP and inflation data (.pdf))