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Below is a list of our Eurozone Publications for the last 6 months. If you are looking for reports older than 6 months please email firstname.lastname@example.org, or contact your account rep
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EZ GDP data beat expectations in Q2, which will drive upward revisions to 2021 forecasts.
We now expect full-year GDP growth in the Euro- zone of 5.0% in 2021, up from 4.5% previously.
Ignore the July dip in euro area core inflation; it will leap to 1.5% in August.
Manufacturing in Germany has stalled. Data yesterday showed that industrial production, including construction, edged lower by 0.3% month-to-month in May, matching the revised decline in April.
Weakness in the core remained a drag on euro area manufacturing midway through Q2, amid strength elsewhere.
In one line: Not terrible, but tomorrow’s production data won’t be pretty.
Judging by the PMIs alone, the private sector in the euro area has put the virus in its rearview mirror. Data on Friday showed that the composite EZ PMI improved further midway through Q2, rising to 56.9 in May from 53.8 in April, extending the rebound which began in February.
Friday's data in the core EZ economies confirmed our suspicion that the reality in manufacturing at the start of the year was not as rosy as implied by the headline surveys and new orders data.
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