Eurozone GDP growth revised down to 0.3pc in Q1

BRUSSELS, May 15 (AFP): The eurozone economy expanded at a slightly slower pace than estimated in the first three months of the year, official data showed on Thursday, with global trade tensions clouding the outlook.
The EU's official data agency said the 20-country single currency area recorded growth of 0.3 per cent over the January-March period from the previous quarter, down from the 0.4 per cent figure published last month.
The first quarter growth figure for the European Union as a whole was unchanged at 0.3 per cent, Eurostat said.
Experts still expect growth to slow sharply as the full effect of US President Donald Trump's 25-per cent tariffs on steel, aluminium and auto imports kick in.
The EU could also still face Trump's 20-per cent levies on a majority of European goods, which were paused for 90 days. A nearly worldwide 10-per cent tariff rate also remains in place.
Brussels and Washington are in talks to avoid a damaging trade war.