A dramatic German growth spurt powered a reacceleration in eurozone growth at the start of this year in contrast to the sharp US slowdown.

Defying the global economic storms, German gross domestic product in Europe’s largest economy increased by 1.5 per cent in the first quarter – the fastest quarterly rate for almost 12 years, the country’s statistical office revealed on Thursday. That was far above expectations and compared with GDP growth of just 0.1 per cent in the US in the same period.