Eurozone economic recovery shows signs of slowdown

AP News
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Posted: Jun 08, 2011 6:47 AM
Eurozone economic recovery shows signs of slowdown

Further evidence has emerged that the eurozone's economic recovery may be slowing down in the second quarter following an unexpectedly strong performance during the first three months of the year.

Though Eurostat, the EU's statistics office, confirmed Wednesday its previous estimate that the 17-country eurozone grew by 0.8 percent in the first quarter, analysts say the breakdown of the figures point to slower growth.

They say a sharp rise in investment and construction output are unlikely to continue into the second quarter.

Meanwhile, figures out of Germany show industrial output fell a monthly 0.6 percent in April, also indicating that the eurozone's largest economy may be slowing down in the second quarter.