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Eurozone GDP is an important measure of the general healthy of EU economy and more importantly any deviation from current projection can trigger some more action from ECB.
Although the periphery country has showing some improvements recently we need to pay closer attention not to the peripheral countries like Spain, Portugal,Ireland or Greece. This countries are the one who have received bailouts assistance so it's not their health that truly matter right now but for the overall health of the EU zone what matter most are the Core Economies like Germany, France or Italy(see Figure 1). Germany is the growth engine of the entire EU zone and it's performance can lift many of it's counterparts of their GDP is robust enough, however as we have been seen his growth has come recently under some pressure.
Just 1h ago the preliminary GDP figure for Germany where released and it shows the economy is started to contract from 0.7% to -0.2%.
In the coming hours the EU Core GDP is expected to be released as follow:
Best Regards,
Daytrader21
Although the periphery country has showing some improvements recently we need to pay closer attention not to the peripheral countries like Spain, Portugal,Ireland or Greece. This countries are the one who have received bailouts assistance so it's not their health that truly matter right now but for the overall health of the EU zone what matter most are the Core Economies like Germany, France or Italy(see Figure 1). Germany is the growth engine of the entire EU zone and it's performance can lift many of it's counterparts of their GDP is robust enough, however as we have been seen his growth has come recently under some pressure.
Just 1h ago the preliminary GDP figure for Germany where released and it shows the economy is started to contract from 0.7% to -0.2%.
Figure 1. Eurozone GDP figures
Italy has been also push back into recession and France is also slowing down so the overall EU GDP is contracting and this will only put more pressure on ECB to pursue more stimulus programs and thus this will weight on the EURO putting more pressure on the current bearish trend.In the coming hours the EU Core GDP is expected to be released as follow:
- GDP YoY: Expectation 0.7%; Previous 0.9%;
- GDP QoQ: Expectation 0.1%; Previous 0.2%;
Best Regards,
Daytrader21
