Europe Weekly: Still little sign of tariff impact, Spanish blackout hit

Data released this week suggest that US tariffs have not had a noticeable impact on euro-zone activity yet. But we still think they will cause GDP growth to grind to a halt in the next six months. Otherwise, the blackout in Spain may subtract between 0.2% and 0.4% from the country’s GDP in Q2, but will leave no lasting economic damage.

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