According to the flash estimate published by Eurostat, real GDP growth rose by 0.4% QoQ sa in the euro area (EA19) in Q1 2015 from 0.3% QoQ in the final quarter of 2014, in line with consensus expectations. More closed economies, that rely primarily on domestic demand (e.g. France, Italy, Spain), surprised to the upside in the first quarter of the year. On the other hand, countries more dependent on external demand (e.g. Germany) disappointed expectations.
