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Eurozone economy records highest growth in nearly two years but rise may well disappoint

BRUSSELS – Official figures show the eurozone economy grew at its fastest rate for nearly two years during the first three months of 2015.

The 0.4 per cent increase in economic output was up from the 0.3 per cent recorded in the previous quarter and was in line with expectations. It matches the rate recorded when it emerged from its longest-ever recession in the second quarter of 2013.

Some in the 19-country eurozone will have hoped for even stronger growth as the currency union has enjoyed tail winds such as a fall in oil prices and the euro, as well as the launch of the European Central Bank’s 1.1 trillion-euro ($1.2 trillion) monetary stimulus.

The overall figure also masks disappointments such as Greece’s return to recession.