Powered by the biggest German expansion in 12 years, the European economy shrugged off the U.S. slowdown to post first-quarter growth numbers ahead of analyst estimates. Gross domestic product (GDP) in the 15-country Eurozone increased by 0.7% in the first three months of the year, Eurostat reported. Analysts had predicted a growth rate of 0.5%. Germany and France - which together account for nearly half the Euro region’s GDP - made the difference. The German economy, the continent’s largest, expanded by 1.5% in the first quarter, compared with a growth rate of 0.3% in the final three months of 2007. France also turned… SHARETHIS.addEntry({ title: "European Growth Strong in the First Quarter, but Will it Last?", url: "http://jutiagroup.com/2008/05/16/european-growth-strong-in-the-first-quarter-but-will-it-last/" });