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Eurozone first-quarter economic dip milder than expected
By EUobserver
The eurozone economy contracted by much less than expected in the first quarter of the year, revised data from the EU's statistics office showed, Reuters reports. Eurostat said GDP in the 19 countries sharing the euro contracted 0.3 percent quarter-on-quarter for a 1.3 percent year-on-year decline. These compared with estimates three weeks ago of respectively -0.6 percent and -1.8 percent.