1 Aug 2022 EZ Monitor Robust GDP and Inflation Data Point to a 50bp Hike in September

Claus Vistesen (Chief Eurozone Economist)29th Jul 2022 15:49Eurozone, Daily Monitor

Strong EZ macro data signal a 50bp hike in September, but we no longer see a hike in February.

The German economy stalled in Q2, setting the scene for a technical recession in H2....

...EZ GDP rose by a solid 0.7% q/q in Q2, but we think it will be revised lower in time, probably to 0.4%.

btp Bund yields capex composite pmi construction core inflation core rate cpi dax 30 deficit deposit rate domestic consumption domestic demand downside risks ECB election electricity energy energy inflation eu euribor euro euro area Euro area GDP exports exports inventories external demand ez core ez gdp ez headline france gdp growth germany global growth government government consumption government spending h2 forecasts headline inflation headline rate household consumption ifo ifo expectations ifo survey imports inventories italy July July cpi June labour leading indicators m1 m3 m3 growth manufacturing manufacturing index manufacturing pmi May money supply money supply data net exports net trade new orders non-energy goods petroleum pmi public consumption q1 q2 q2 gdp q3 q4 rate hike real m1 recession recessions refinancing retail sales russia savings September services inflation spain spanish survey data surveys technical recession trade trade balance transport unemployment vat winter yields

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Keywords for: 1 Aug 2022 EZ Monitor

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1 Aug 2022 EZ Monitor Robust GDP and Inflation Data Point to a 50bp Hike in September

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