Eurozone Economic Outlook
December 20, 2018
Detailed data confirmed that broad-based malaise drove the Eurozone economy to slow notably in the third quarter, with growth recording the softest reading in four years. Notably, export growth contracted amid cooling global trade, while the industrial sector was also hurt as the automobile sector was disrupted by new emissions tests. Available data for the fourth quarter points to mixed momentum. In October, industrial production rebounded and the unemployment rate was stable. However, sentiment slid in November and the composite PMI plunged to a four-year low in December. In the political arena, European leaders agreed to make a common-budget for the Eurozone on 14 December, accepting a slimmed-down version of an idea touted by French President Emmanuel Macron. The budget would be used to spur investment and reduce economic disparity among economies and is a sign of renewed life in Eurozone reforms. Most of the difficult decisions regarding the budget, including its size, have yet to be agreed upon and a proper proposal is expected in June. The budget could face lengthy negotiations to pass given the differing views among heads of states over the matter.Eurozone Economic Growth
A solid domestic economy should drive healthy growth next year. However, a less favorable external backdrop will weigh on the pace of expansion. The threats of rising global protectionism and turbulent internal politics are key risks to the Eurozone’s forecasts. The panel projects growth of 1.6% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.5% in 2020.Eurozone Economy Data
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Eurozone Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.14 | 0.65 % | Jan 16 |
| Stock Market | 1,067 | -0.52 % | Jan 16 |
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Eurozone Economic News
Eurozone: Inflation drops in December
January 17, 2019
According to complete data released by Eurostat on 17 January, harmonized inflation came in at 1.6% in December, matching the preliminary estimate and below November’s 1.9%.
Eurozone: Unemployment rate inches down in November
January 9, 2019
According to data released by Eurostat, labor market conditions in the common currency bloc improved in November.
Eurozone: Economic sentiment hits almost two-year low in December
January 8, 2019
Economic sentiment in the Eurozone continued to plunge in December, ending 2018 on a downbeat note.
Eurozone: Inflation falls in December
January 4, 2019
According to a preliminary release by Eurostat on 4 January, harmonized inflation dropped to 1.6% in December, down from 1.9% in November.
Eurozone: Inflation eases in November
December 17, 2018
According to complete data released by Eurostat on 17 December, harmonized inflation came in at 1.9% in November, a notch less than the preliminary estimate and below October’s 2.2%.
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