In Europe

alemania germany ZEW

Germany’s GDP grows 0.2% year-on-year in 2Q25 compared to 0.3% in previous quarter, and below consensus estimate of 0.4%

Link Securities | According to the final reading of the data released by the German Federal Statistical Office, Destatis, Germany’s gross domestic product (GDP) contracted by 0.3% in 2Q25 compared to the previous quarter, more than the 0.1% contraction initially estimated, which was in line with the consensus of FactSet analysts. In 1Q25, Germany’s GDP had grown by 0.3% in quarterly terms. The decline in 2Q25 is the sharpest quarterly…


BCE Lagarde junio2025

Lagarde at Jackson Hole says that immigration has contributed to 50% of European labour market growth over last three years

Bankinter | Lagarde in Jackson Hole. The main messages from the ECB President were: (i) Growth and inflation. She was optimistic about a ‘soft landing’ for the economy thanks to the strength of the labour market and the relaxation of monetary policy conditions. On inflation, she noted that upward pressures still exist, although she expects it to remain anchored close to its inflation target, mainly due to wage moderation in…


caf1CM

Alstom appeals selection of CAF to renew Belgium’s train fleet again, despite national operator’s decision to continue process

Norbolsa | Alstom is again appealing the tender for the Belgian SNBC contract despite the operator’s decision to continue with the process (still unsigned). The Council of State (administrative court) has set a hearing for 29 August, at which Alstom will face SNBC. The appointment of CAF to renew the Belgian fleet, a project with an assessed value of between €1.7 billion and €3.5 billion, prompted Alstom, which has two…


Iberdrola east anglia

Iberdrola completes foundations for substation of East Anglia 3 offshore wind farm in North Sea

Alphavalue / Divacons | The Spanish utility company, through its British subsidiary Scottish Power, has taken a decisive step forward in the commissioning of its East Anglia 3 offshore wind farm, located in the North Sea off the coast of Suffolk (United Kingdom). The company has completed the installation of the foundations for the project’s offshore substation. In other news, Iberdrola has appointed Juan Luis Pérez Martín, a lieutenant general…


eurozona mapa billete 1

Eurozone annual inflation remains at 2%

CdM | The annual inflation rate in the eurozone was 2% in July 2025, stable compared to June. A year earlier, the rate was 2.6%. Annual inflation in the European Union was 2.4% in July 2025, up from 2.3% in June. A year earlier, the rate was 2.8%. These figures were published by Eurostat, the statistical office of the European Union. The lowest annual rates were recorded in Cyprus (0.1%),…


aranceles comercio

Eurozone current account balance shows €36 billion surplus, up €4 billion on previous month

Link Securities | According to data published on Tuesday by the European Central Bank (ECB), the Eurozone current account balance recorded a surplus of €36 billion in June, an increase of €4 billion compared to the previous month. In June, surpluses were recorded in goods (€23 billion), services (€16 billion) and primary income (€14 billion). In seasonally adjusted terms, the current account surplus rose to €35.8 billion in June, from…


produccionindustrial pantalla

Industrial production rises in June in both Eurozone and EU (0.2% and 0.5% respectively)

CdM | Industrial production in the Eurozone rose by 0.2% in June 2025, while in the European Union (EU) the increase was 0.5% compared to the same month last year. According to data from Eurostat, the EU’s statistical office, industrial production fell by 1.3% month-on-month in the eurozone countries, while the decline compared to May was 1% in the EU-27. In May 2025, industrial production had grown by 1.1% in…


Retail Eurozone

Retail sales in Eurozone and EU rise 0.3% in June

CdM | Retail trade volume grew by 0.3% in June compared to the previous month in both the Eurozone and the European Union (EU), according to estimates published by Eurostat, the EU’s statistical office. The figure was below the expected 0.4%. In detail, in both the eurozone and the EU, sales rose by 0.2% in food, beverages and tobacco and by 0.6% for non-food products (excluding car fuel). Motor fuel…


manufacturas2

Eurozone manufacturing sector regains momentum, rising to 19.8 in July, but caution remains

CdM | The Eurozone manufacturing sector is regaining momentum, but with caution. At the start of the third quarter, operating conditions stabilised broadly, according to the PMI index. ‘With the new trade framework agreed between the EU and the US, uncertainty should ease and the signs point to a continued upward trend in the coming months.’ This is the view of Hamburg Commercial Bank, which comments that supply chains “remain…


alemania reichstang

Germany to back draft 2026 budget that includes record €126.7 billion investment and €174.3 billion loan

Norbolsa | The German government will back a draft budget for 2026 on Wednesday that includes record investment of €126.7 billion and a loan of €174.3 billion as part of its fiscal bazooka for infrastructure and defence. The draft budget for 2026, with total spending of €520.5 billion, includes €126.7 billion in investments aimed at modernising the country (10% above 2025 and 70% above 2024).