Eurozone Q1 growth revised lower to 0.5 percentMay 13, 2016 - 15:32 AMT PanARMENIAN.Net - Economic growth across the 19-country eurozone in the first three months of the year has been revised lower but the region still managed to outperform the U.S. by quite some margin, the Associated Press reports. Eurostat, the European Union's statistics agency, says Friday, May 15 that the eurozone economy expanded by a quarterly rate of 0.5 percent in the January to March period. That's down on the initial estimate of 0.6 percent and is partly due to weaker industrial production figures. Still, the eurozone's growth during the first quarter outstripped the 0.1 percent recorded in the U.S. There were several bright spots in the eurozone figures, such as that the German economy, Europe's biggest, grew by a strong 0.7 percent. And France expanded at a healthy tick of 0.5 percent. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. |