13 Feb 2015
Eurozone Q4 GDP sends positive signal for 2015 growth – BNPP
FXStreet (Barcelona) - Clemente De Lucia of BNP Paribas, comments that the above consensus Q4 GDP print of Eurozone likely suggests that 2015 GDP will have an upside risk to the 1.1% yoy forecast.
Key Quotes
“The eurozone performed relatively well around the turn of the year. GDP growth accelerated to 0.3% q/q, in Q4 , while survey data suggest that it continued to increase at a relatively solid pace at the beginning of 2015.”
“The eurozone is benefiting from a combination of positive shocks (fall in oil prices, euro depreciation and a more accommodative monetary policy stance) which are likely to sustain activity throughout the year.”
“While in December 2014 we forecast GDP growth at around 1.1% for the whole year 2015, the release of recent hard and soft data and the effects of these positive shocks suggest that growth will probably be above that level.”
“Against this backdrop it is very likely that we will revise upward our projections during our next forecast round (mid-March 2015).”
Key Quotes
“The eurozone performed relatively well around the turn of the year. GDP growth accelerated to 0.3% q/q, in Q4 , while survey data suggest that it continued to increase at a relatively solid pace at the beginning of 2015.”
“The eurozone is benefiting from a combination of positive shocks (fall in oil prices, euro depreciation and a more accommodative monetary policy stance) which are likely to sustain activity throughout the year.”
“While in December 2014 we forecast GDP growth at around 1.1% for the whole year 2015, the release of recent hard and soft data and the effects of these positive shocks suggest that growth will probably be above that level.”
“Against this backdrop it is very likely that we will revise upward our projections during our next forecast round (mid-March 2015).”