France Starting to Recover as Italian Crisis Deepens

Economic data from the eurozone has pointed to a pick-up in France, while Italy’s decline has deepened.

Italy’s economy shrank for a seventh successive quarter between January and March, according to official figures.

Other data indicated that the country’s industrial output fell 0.3% in April, suggesting the decline was continuing.

In contrast, French industrial production surged 2.2% in April, surprising economists who on average had expected just a 0.3% rise.

The surge was driven by a rise in activity in the metalworking, car-making and textile industries.

The data came as the Organisation for Economic Cooperation and Development (OECD) said the rate of growth in the US and Japan was outstripping growth in the eurozone.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza