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Today's EZ calendar is a busy one.
The INSEE's manufacturing sentiment data in France are slightly confusing at the moment.
Yesterday's detailed Mexican GDP report confirmed that growth was relatively resilient in Q2, despite the lagged effect of external and domestic headwinds.
Greece's exit from eight years of near constant bail-out programs raises as many questions as it answers.
Construction in the Eurozone had a decent start in the third quarter. Output rose 0.5% month-to- month in July, pushing the year-over-year rate down to 1.9% from 2.8% in June.
We still don't have the complete picture of what happened to the EZ construction sector in Q2, but we have enough evidence to suggest that it rolled over.
Judging by the survey data, German business sentiment remained depressed at the start of the year.
We covered the detailed German Q1 GDP report in Friday's Monitor--see here--but the investment data could do with closer inspection. The headline numbers looked great.
Friday's industrial production data in Germany added to the manufacturing optimism following the sharp rise in new orders--see here--reported earlier in the week.
Industrial production data in Germany continued to defy the signal of doom and gloom from leading indicators.
February's Markit/CIPS construction survey brought further evidence that the economy is being weighed down by Brexit uncertainty.
The flow of downbeat business surveys continued yesterday, with the release of the Markit/CIPS construction survey.
Evidence that the U.K. economy has slowed significantly this year is starting to come in thick and fast. Following the Markit/CIPS manufacturing PMI on Monday --which signalled that growth in production declined in March to its lowest rate since July--the construction PMI dropped to 52.2 in March, from 52.5 in February.
The EZ's current account surplus was stung at the end of Q3, falling to a three-year low of €16.9B in September, from a revised €23.9B in August.
Yesterday's economic data added further evidence that GDP growth in the EZ will slow in Q2.
Unemployment in France remains high, but the trend is turning. The mainland rate of joblessness fell to a five-year low of 8.6% in Q4, and yesterday's employment report continued the good news.
Yesterday's second EZ Q2 GDP report was slightly more upbeat than the advance estimate.
Yesterday's industrial production numbers in Germany were similar to Friday's confusing new orders data.
Manufacturing in France rebounded only modestly at the start of Q3, despite favourable base effects.
France is solidifying its position as one of the Eurozone's best-performing economies.
Output in EZ construction rebounded sharply in February, erasing a slip at the start of the year.
Today's economic data will add to the evidence that construction in the Eurozone slowed in the first quarter.
Judging by the monthly production data, construction in the Eurozone slowed sharply in the second half of 2018.
Today's construction data in the Eurozone will inject a dose of optimism amid the series of poor economic reports at the start of Q2.
Data today will show that the EZ construction sector finished 2017 on a decent note.
Yesterday's economic data provided further evidence that GDP growth in the EZ economy slowed in Q2.
Yesterday's November EZ construction data offered little respite to the gloomy outlook for the Q4 GDP headline.
Friday's data provided the first bit of evidence that manufacturing in the Eurozone is headed for a slowdown in Q2, partly reversing the strength in Q1.
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