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Eurozone Growth Stabilizes in Q1

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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 Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

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