The economy of euro zone eased in January-March of 2018, though did better than Britain, new official data shows. According to today’s Eurostat report, expansion rate of 19 states using single currency in the first quarter slid to 0.4%, becoming the lowest reading since mid-2016.
At the same time euro zone’s quarterly expansion was far ahead from the UK’s 0.1% for the period, recent figures by the Office for National Statistics say. Compared to the same period last year the countries of euro had GDP growth fall to 2.5% from 2.8%.
To compare Britain’s economy expanded at 1.2% in a year, the worst rate since 2012, as the data by the Office for National Statistics demonstrates.
Britain’s deceleration has been interpreted by the economists as a result of Brexit issue and pressured family incomes caused by the inflation hike in 2017. There’s no unity on the reasons though, following last year’s striking expansion, as some experts cite concerns over a trade war after the U.S. President’s statements, while some ascribe the slowdown to bad weather.
Last few months were marked by moderation as cold weather, Germany’s traditional flu period, France’s broad strikes made it even worse, Moritz Degler of Oxford Economics pointed out.