13 Feb 2015
Eurozone Q4 2014 GDP to tick a little higher – ING
FXStreet (Barcelona) - Teunis Brosens of ING, forecasts today’s Eurozone Q4 2014 GDP to print a slight above consensus figure at 0.3%qoq.
Key Quotes
“Eurozone industrial production in the entire fourth quarter contributed a meagre 0.05% to GDP growth in 4Q. On the bright side, industrial production is at least delivering a positive growth contribution in 4Q, compared with a negative contribution of almost -0.1% in 3Q.”
“Modest positive developments in the industry sector might be offset by weakness in the services sector, judging from the softening of the services sector PMI in 4Q. And finally, retail sales unequivocally point towards an acceleration of consumption.”
“All in all, with cheap oil and a weaker euro, an acceleration of growth seems to be in the offing.”
“The question is to what extent it already materialised in 4Q GDP and to what extent we have to wait a bit longer. Consensus is for 0.2% QoQ growth in 4Q. We see a little more and expect 0.3%.”
Key Quotes
“Eurozone industrial production in the entire fourth quarter contributed a meagre 0.05% to GDP growth in 4Q. On the bright side, industrial production is at least delivering a positive growth contribution in 4Q, compared with a negative contribution of almost -0.1% in 3Q.”
“Modest positive developments in the industry sector might be offset by weakness in the services sector, judging from the softening of the services sector PMI in 4Q. And finally, retail sales unequivocally point towards an acceleration of consumption.”
“All in all, with cheap oil and a weaker euro, an acceleration of growth seems to be in the offing.”
“The question is to what extent it already materialised in 4Q GDP and to what extent we have to wait a bit longer. Consensus is for 0.2% QoQ growth in 4Q. We see a little more and expect 0.3%.”