The euro area economy grew at a slower than initially estimated pace in the first quarter, flash estimate from Eurostat showed on Thursday.

Gross domestic product expanded 0.3 percent on a quarterly basis, which was revised down from 0.4 percent estimated on April 30. This followed fourth quarter's 0.2 percent expansion.

On a yearly basis, economic growth remained unchanged at 1.2 percent in the first quarter and matched estimated.

The number of employed persons grew 0.3 percent from a quarter ago, following a 0.1 percent rise in the fourth quarter. Year-on-year, growth in employment was stable at 0.8 percent.

Powered by Commodity Insights