Eurozone Economic Forecast

Eurozone Economic Outlook

March 26, 2019

Comprehensive data confirmed that the economy stuttered again in Q4 2018, with growth barely picking up after the Q3’s weak performance. Downbeat sentiment, troubles in the manufacturing sector and the unwinding of inventories weighed on the domestic economy. While the economic backdrop remains somber in 2019—with heightened uncertainty over Brexit and tariffs on the automobile industry—recent signs have emerged of a tentative stabilization. Retail sales jumped in January and the unemployment rate held at a multi-year low, boding well for household spending. Low oil prices, meanwhile, should keep inflation and the import bill in check. Furthermore, although economic sentiment continued to fall in February, the pace of decline moderated significantly. That said, the manufacturing PMI slumped in March, suggesting that the sector is still reeling from a slowing global economy and a bruised car sector.

Eurozone Economic Growth

The Eurozone’s growth outlook was cut for a fifth consecutive month on the back of a disappointing 2018 and ongoing woes in the manufacturing sector. Risks to activity linger from automobile tariffs, political uncertainty and sluggish global demand. Nevertheless, a tightening labor market, contained inflation and accommodative monetary policy should provide some relief. Met the why particular analysts expect growth of 1.3% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.4% in 2020.

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Eurozone Facts

Exchange Rate1.130.65 %Apr 12
Stock Market1,189-0.52 %Apr 12

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