European economic growth was weaker than expected in the first three months of 2014, but still managed to outpace the U.S. for the first time in three years.
Gross domestic product across the 18 countries in the eurozone grew at an annual pace of 0.9% in the first quarter, the European Union's statistical office said Thursday.
That compares with growth of 0.1% in the U.S. in the first quarter, when harsh winter weather was blamed for depressing exports, housing and business investment.
Eurozone growth compared with the fourth quarter of 2013 was 0.2%, about half the rate expected by economists, reflecting a weak performance by big countries such as France, Italy and the Netherlands.
But it confirmed that the recovery from the region's devastating debt crisis remains on track, if slow and uneven.
"The best that can be said ... was that at least the eurozone has now managed to grow for four successive quarters, following six quarters of contraction through to the first quarter of 2013," noted IHS chief European economist Howard Archer.
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