The euro area economic growth doubled in the first quarter. EU's data agency said the 20-country single currency area recorded growth of 0.6% over the January-March period from the previous quarter, up from the 0.3% figure published last month. Gross domestic product saw a quarterly growth of 0.6 percent in the first quarter, which was faster than the initial estimate of 0.3 percent, Eurostat said. This followed a 0.3% rise in the fourth quarter of 2024. On a yearly basis, economic growth improved to 1.5% from 1.2%. In other set of data, Eurozone retail sales rose marginally in April. The monthly growth in retail sales eased to 0.1% in April from 0.4% in March.

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