New figures indicate the eurozone’s economy grew 0.5% in the first quarter of this year, outstripping both the UK and the US.
Editor’s Remarks: Matching the figure for the final quarter of 2016, Eurostat’s flash estimate (an early estimate of GDP) suggests that the single currency area is on track to make it out of the doldrums, adding to other recent positive figures such as yesterday’s highs in the bloc’s manufacturing PMIs. IHS Global Insight said they are more confident their overall 2017 growth forecast of 1.7% for the area will come true. As with almost every new nugget of data on the eurozone economy, discussion over the ECB’s asset purchasing programme could well flare up again, as the region’s performance give the central bank more room to start phasing it out early.
What to watch: Eurozone Inflation, IHS Global Insight, Eurostat, European Central Bank