Eurozone Economic Outlook
March 27, 2018Detailed data confirmed that the Eurozone economy continued to grow robustly in the fourth quarter of 2017, capping off the best year of growth in over a decade. The solid reading was driven by a rebound in fixed investment, supported by optimistic business sentiment, and buoyant export growth despite a strong euro. Recent data for Q1 has been strong, albeit pointing to a moderation from prior levels. Economic sentiment edged down in February, while the composite PMI fell in March. However, the unemployment rate remained at a multi-year low in January. Meanwhile, the relationship with the United States, a major trading partner, has come into focus in recent weeks, after U.S. President Trump announced tariffs on steel and aluminum. On 23 March, the U.S. government announced that exports from the EU would be temporarily exempted until 1 May, and discussions on the topic are ongoing. A breakout of a tit-for-tat tariff battle could dent confidence and economic activity on both sides of the Atlantic.
Eurozone Economic GrowthA buoyant domestic economy should fuel another year of solid growth in 2018, as last year’s growth drivers are largely in place. Tight labor markets, high sentiment and accommodative monetary policy should support activity, while a strong euro could dent export growth. Met the why particular analysts upgraded their forecasts for a sixth consecutive month this month and now see the Eurozone economy growing a robust 2.4% this year, up 0.1 percentage points from last month’s forecast. In 2019, GDP is forecast to grow 1.9%.
Eurozone Economy Data
5 years of Eurozone economic forecasts for more than 30 economic indicators.
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Eurozone Economic News
April 23, 2018
Leading data suggests that the Euro area’s economic momentum remained downbeat in April, starting the second quarter on a lackluster note.
April 12, 2018
Activity in the industrial sector contracted for the third consecutive month in February, recording the worst reading since June 2017.
March 27, 2018
Economic sentiment in the Eurozone fell for a third consecutive month in March, although remains historically high.
March 22, 2018
Leading data suggests that the Euro area’s economic momentum weakened notably in March, ending the first quarter on a sour note.
March 14, 2018
Activity in the industrial sector contracted in January, recording the worst reading in over a year.