Euro-zone GDP rose by a healthy 0.6% in Q1, easily outpacing the expansions in the US and UK and following disappointingly slow growth in the second half of 2015. But the data look strong relative to survey measures of activity, such as the Composite PMI. The latter fell slightly in April and suggests that, after the volatility around the turn of the year, growth is set to slow back towards an “underlying” rate of around 0.3% per quarter. Supporting this picture, the latest trade and retail sales data have offered some evidence that the boosts from previous declines in the euro and oil prices are now fading.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services