Eurozone Growth Stabilizes in Q1

The euro area maintained its growth momentum at the start of 2017, strengthening the case of those pressuring the European Central Bank to sketch out an end to extraordinary stimulus measures.

Gross domestic product rose 0.5 percent in the first three months of the year, according to an initial estimate published by the European Union’s statistics office on Wednesday. That’s in line with the median estimate in a Bloomberg survey of economists and matches the pace of the previous quarter.

While policy makers have expressed different views on the sturdiness of the 19-nation economy, June seems to be emerging as the month in which the Governing Council will set the course for a gradual exit from monetary stimulus. ECB President Mario Draghi has characterized the recovery, now in its fourth year, as “solid and broad” as indicators ranging from manufacturing to employment show signs of picking up and inflation approaches the central bank’s goal.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.