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18th May 2026 18:14EurozoneDaily Monitor
  • The EZ energy import bill is soaring and will soon push the nominal trade balance into deficit… 
  • …But the real trade deficit will likely be relatively stable as the volume of import growth slows. 
  • The hit to EZ GDP growth from falling net trade is over, but we see no strong boost any time soon.

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Keywords for: 20 May 2026 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence