Germany avoids recession, revises down Q4 GDP data.

 Unlike its less economically fortunate eurozone core compatriot France, Germany managed to avoid falling into recession in Q1, albeit by the narrowest of margins. The German economy expanded by 0.1% during the quarter, less than the 0.3% growth economists expected, as harsh winter weather, falling exports, and lackluster investment took their toll. Germany's statistics office also revised down its GDP data for Q4, saying the economy shrank by 0.7% during the period, more than the 0.6% contraction previously reported. The data come on the heels of ZEW's investor confidence reading which showed persistent worries about the state of the eurozone economy writ large continue to weigh on sentiment.