Little-revised first-quarter information on gross domestic product that released on Friday gave confirmation that the 16-nation euro zone's financial recovery continued at a lethargic speed in the first three months of the year.

GDP expanded by 0.2% as contrasted with the final three months of 2009, which remained unchanged from a preceding estimate, the European Union statistics agency Eurostat reported.

In comparison to the first quarter of 2009, GDP expanded by 0.6%, the agency said, which is up by somewhat a little degree from a preliminary estimate of 0.5%.

Eurostat also revised up slightly its approximation of activity for the final quarter of 2009, demonstrating 0.1% sequential GDP growth and a 2.1% reduction from the fourth quarter of 2008. Eurostat formerly had anticipated no quarter-to-quarter change and a 2.2% year-on-year drop.

Private spending dropped by almost 0.1% on the quarter, with automotive sales accounting for most of the haul, following the phase-out of scrapping programs for older vehicles, predominantly in France and Italy.

Nor are predictions for consumption looking very good for the second quarter, Valli said, with customer confidence starting to take a strike, as Governments make a move to begin fiscal consolidation in the approaching time of this year.