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2nd Aug 2021 00:20Eurozone, Economic Monitor, Eurozone Key Issues

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.

August base effects bonds business surveys businesses capex central bank clothing consumer consumer confidence consumption core goods core goods inflation core inflation core rate cpi dax 30 December deficit domestic demand ECB economy energy energy cpi energy inflation euro euro area europe eurozone exports external demand ez ez core ez gdp factory orders financial conditions forecasters forecasts france french gdp gdp data gdp growth german labour market german unemployment germany goods inflation governing council government growth headline inflation hicp hicp rate ifo ifo expectations IFO expectations index index industrial output industrial production inflation input price inventories investors italy jobless rate July June June forecasts labour labour market manufacturing manufacturing pmi markets net exports net trade non-energy goods November October oil oil price oil prices orders pm pm forecast pmi private investment private spending production public consumption q1 q1 gdp q2 q2 gdp q3 q3 gdp q4 qe real gdp remain retail retail sales September spain summer survey surveys trade trade deficit unemployment us vat

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