eurozone

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Eurozone finance ministers sign joint declaration committing to fiscal adjustment in 2023 and 2024

BancaMarch: With the aim of restoring balance to public finances after the Covid-19 crisis, eurozone finance ministers yesterday signed a joint declaration committing themselves to fiscal consolidation in 2023 and 2024. This is a gradual reform plan with country-specific action plans that will not only aim to reduce the public coffers deficit but also to increase investment through public and private sources.


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Eurozone on brink of recession

Martin Wolburg (Generali Investments)| The eurozone entered a technical recession during the winter half-year. However, indicators suggest that activity expanded again thereafter. Looking ahead to the second half of the year, however, we expect activity to moderate again, bringing the eurozone to the brink of recession. The main headwinds come from the global environment, which keeps manufacturing industry on a downward trajectory. At the same time, financing conditions will continue…


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Euro area GDP enters technical recession after 0.1% drop in 1Q23, first time since beginning of pandemic

CdM| The Gross Domestic Product (GDP) of the euro area recorded a contraction of -0.1% in the first quarter of 2023, marking the entry into technical recession of the region’s economy, following the fall in activity also of -0.1% in the fourth quarter of 2023, according to the latest revision of the figure published by Eurostat. In this way, the community statistics office has revised its previous estimate, published in…


Eurozone

Eurozone inflation slows to 6.1% in May, lowest level since February 2022; core moderates to 5.3%

CdM: Price rises ease in the euro area. In May, inflation fell nine tenths of a percentage point from the previous month, bringing the Consumer Price Index (CPI) to 6.1%, according to Eurostat, the EU’s statistical office. This is the lowest level since February 2022, coinciding with the Russian invasion of Ukraine. Excluding the impact of energy, food, alcohol and tobacco, core inflation achieved two consecutive months of moderation, standing…


Europa

Eurozone GDP grows 0.1% in seasonally adjusted data in 1Q2023 compared to 4Q2022

Link Securities | According to the second estimate of the data, released yesterday by Eurostat, the Eurozone’s Gross Domestic Product (GDP) grew 0.1% in seasonally adjusted data in 1Q2023 compared to 4Q2022. In 42022 GDP had been stable in the Eurozone (0.0%). The reading was in line with the FactSet consensus of analysts. Compared to the same quarter of the previous year, seasonally adjusted GDP in the Eurozone increased by…


Europa byn

Eurozone inflation rises one tenth of a percentage point to 7% in April

The year-on-year inflation rate in the Euro area accelerated by one tenth of a percentage point in April compared with the previous month, reaching 7%, compared with 6.9% in March, while in the European Union (EU) as a whole, prices eased to 8.1% from 8.3% in March, accumulating five months of moderation, according to data published by Eurostat. Among EU countries, the lowest year-on-year inflation rates were recorded in Luxembourg…


Eurozona IPC

Eurozone preliminary April CPI rises to 7% from 6.9%, core falls to 5.6% vs. 5.7% previously

Link Securities | Eurostat published on Tuesday that, according to the preliminary estimate of the data, the Eurozone consumer price index (CPI) rose 0.7% in the month of April compared to March. In the year-on-year rate, the Eurozone CPI rose in April, also according to the preliminary reading of the index, by 7.0% compared to 6.9% in March, which was expected by the analysts’ consensus. In April energy prices rose…


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Eurozone inflation expectations for next 12 months fall to 4.6% in February

Link Securities | Bloomberg reported on Thursday that, according to the ECB’s monthly survey, inflation expectations for the next 12 months fell to 4.6% in February from 4.9% in January. In addition, inflation expectations for the next three years fell to 2.4% from 2.5% the previous month. In addition, according to the survey, economic growth expectations for the next 12 months continued to rise, from -1.2% to -0.9%. Meanwhile, 12-month…


Chris Lagarde

ECB continues to contradict market expectations with tightening messages

Renta 4 : Today, on a day in which futures point to an opening with little change, the main macro reference will be the number of available job openings in the JOLTS (Job Openings and Labor Turnover Survey) in the US, which is expected to remain high in February (10.5 million expected as opposed to 10.824 million previously), giving signs of a still very solid labour market. This data will…


Europa

Eurozone annual inflation drops to 6.9% in March

CoM | Annual inflation in the eurozone will be 6.9% in March 2023, down from 8.5% in February, according to a preliminary estimate by Eurostat, the statistical office of the European Union. Regarding the main components of eurozone inflation, food, alcohol and tobacco, they are expected to record the highest annual rate in March (15.4%, up from 15.0% in February), followed by non-energy industrial goods (6.6%, up from 6.8% in…