The latest data released by Eurostat on June 8th showed that it mainly benefited from the growth of business investment. The revised Eurozone’s gross domestic product (GDP) in the first quarter of 2011 increased by 2.5% year-on-year and 0.8% quarter-on-quarter. The largest month-on-month increase since the third quarter of the year. In the fourth quarter of 2010, Eurozone GDP increased by 0.3% quarter-on-quarter and 1.9% year-on-year. The data shows that the first quarter of the euro zone business investment increased by 2.1%, the largest increase since the second quarter of 2010. In the first quarter, exports increased by 1.8% quarter-on-quarter and imports increased by 1.9% quarter-on-quarter. Household consumption and government spending increased by 0.3% and 0.8% respectively. According to the data of member states, in the first quarter, the GDP of the euro zone economy leader grew by 1.5% from the previous month, which was consistent with the initial value; the year-on-year increase was revised downward from the initial value of 5.2% to 4.8%. France's GDP in the first quarter increased by 1.0% quarter-on-quarter and 2.2% year-on-year. Among the highly indebted member states, the Greek economy grew slightly by 0.8% from the previous month; the Portuguese economy continued to sink into the recession, shrinking by 0.7% in the quarter. The European Central Bank announced interest rate decisions and economic growth expectations on June 9. Analysts expect that the bank will continue to maintain its benchmark interest rate unchanged at 1.25%.
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