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 | Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. Azerbaijan razes historic Armenian church to ground Azerbaijan has demolished the historic Armenian Church of St. John the Baptist (known as Kanach Zham). Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |