29 Apr 2016
Eurozone: All eyes on GDP numbers – Rabobank
Michael Every, Head of Financial Markets Research at Rabobank, suggests that after the disappointing data that is US GDP, or perhaps the disappointing estimate from the BEA, rather, the Eurostat gets a go at estimating Eurozone GDP today.
Key Quotes
“Hopefully, Eurostat, will not disappoint. Early this morning, French GDP numbers were actually quite decent, showing 0.5% QoQ (that’s 2% SAAR – BEA eat your heart out!), all the more because growth was driven by consumption (+1.2%) and investment (+0.9%).
This raises the probability that EZ GDP growth will meet or even outstrip the consensus estimate (+0.4%), which the ECB will likely seize as evidence that its policy is working.
Somewhat of an oddity this time around is that German GDP will only be released on 13 May. We presume Eurostat will have some preliminary data fired over from their colleagues in Wiesbaden.”
Key Quotes
“Hopefully, Eurostat, will not disappoint. Early this morning, French GDP numbers were actually quite decent, showing 0.5% QoQ (that’s 2% SAAR – BEA eat your heart out!), all the more because growth was driven by consumption (+1.2%) and investment (+0.9%).
This raises the probability that EZ GDP growth will meet or even outstrip the consensus estimate (+0.4%), which the ECB will likely seize as evidence that its policy is working.
Somewhat of an oddity this time around is that German GDP will only be released on 13 May. We presume Eurostat will have some preliminary data fired over from their colleagues in Wiesbaden.”