Eurozone Economic Outlook
July 24, 2018
The Eurozone economy appears to have stabilized towards the end of Q2, after growth cooled sharply in Q1. Industrial production rebounded strongly in May and the composite PMI rose in June, ending a streak of downbeat economic data. In addition, the unemployment rate remained at a near 10-year low in May. While economic data has taken a more positive turn, the political environment within the Eurozone and abroad casts a shadow over growth prospects. Tensions with the U.S., the bloc’s largest trading partner, are high after President Donald Trump threatened to slap tariffs on EU-manufactured automobiles last month. The two sides will meet on 25 July and attempt to iron out trade relations; however, unsuccessful negotiations could see an escalation of tit-for-tat tariffs. At home, a disagreement over migrant policy nearly led to a collapse of the German government in early July, and the coalition appears on shaky ground going forward. On a brighter note, the European Union signed one of the world’s largest free-trade deals with Japan on 17 July. The deal will eliminate around 94% of Japanese tariffs on European exports, with the figure gradually rising to 99%.Eurozone Economic Growth
Solid domestic fundamentals will fuel healthy, albeit more moderate, growth this year, and FocusEconomics panelists project GDP to expand 2.2%, unchanged from last month’s forecast. Slower export growth will dampen the pace of activity, while rising global protectionism remains a risk to the forecast. In 2019, the economy is seen expanding 1.9%.Eurozone Economy Data
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Eurozone Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.16 | 0.65 % | Aug 07 |
| Stock Market | 1,217 | -0.52 % | Aug 07 |
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Eurozone Economic News
Eurozone: Growth falls to two-year low in Q2
July 31, 2018
The Eurozone economy slowed in the second quarter of 2018, losing further momentum after a weak start to the year.
Eurozone: Inflation inches up in June
July 31, 2018
According to preliminary data released by Eurostat on 31 July, harmonized inflation came in at 2.1% in July, up from June’s 2.0%.
Eurozone: Unemployment rate stable in June
July 31, 2018
According to data released by Eurostat, labor market conditions in the common currency bloc were largely unchanged in June.
Eurozone: Economic sentiment falls to 11-month low in July
July 30, 2018
Economic sentiment in the Eurozone eased slightly in July, continuing a downward trend seen in recent months.
Eurozone: ECB leaves rates unchanged in uneventful meeting
July 26, 2018
The European Central Bank (ECB) did not deliver any surprises at its 26 July monetary policy meeting, leaving its main interest rates unchanged and reiterating the highlights from its June meeting.
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