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- European stocks close: stocks closed lower on the Chinese economic data
European stocks close: stocks closed lower on the Chinese economic data
Stock indices closed lower on the Chinese economic data. China's National Bureau of Statistics released its gross domestic product (GDP) data on Friday. The country's economy expanded 6.7% in the first quarter, in line with expectations, after a 6.8% rise in the fourth quarter of 2015. It was the slowest rise since 2009.
European Central Bank (ECB) President Mario Draghi said in a speech on Friday that the Eurozone's economy continued to recover, adding that there was uncertainty about the outlook, mainly due to downside risks to growth prospects in emerging economies.
Draghi noted that inflation in the Eurozone would likely be negative in the coming months before rising later in 2016.
Market participants also eyed the economic data from the Eurozone. Eurostat released its trade data for the Eurozone on Friday. Eurozone's unadjusted trade surplus climbed to €19.0 billion in February from €6.2 billion in January.
Exports rose at an unadjusted annual rate of 1.0% in February, while imports climbed 2.0%.
The Office for National Statistics (ONS) released its construction output data for the U.K. on Friday. Construction output in the U.K. declined 0.3% in February, after a 0.4% fall in January.
Repair and maintenance activity fell 0.5% in February, while new work declined 0.2%.
On a yearly basis, construction output increased 0.3% in February, after a 0.9% drop in January.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,343.75 -21.35 -0.34 %
DAX 10,051.57 -42.08 -0.42 %
CAC 40 4,495.17 -16.34 -0.36 %
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