Howpic.twitter.com/K0mUjh520u 9.10am BSTPhilippe Waechter,chief economist at Natixis Asset Management, also believes the rise in French growth will succor Francois Hollande:Waechter says (via the FT):“There is a stronger situation in the labour market and that will create strong momentum this year...
It’s perfect timing for Hollande.” 9.08am BSTThe acceleration in French growth to 0.5% is good news for Francois Hollande, and the embattled president.“This is solid growth.
Output is increasing and translating into more jobs and a drop in unemployment.” 8.52am BSTShares in airlines group IAG have dropped by over 4% this morning after it warned that March’s Brussels terrorism attacks have hit sales. 8.49am BSTWe have been expecting Q1 2016 #Eurozone #GDP growth of 0.4% q/q,but now wonder if it could beat this. #Germany likely saw decent growth 8.29am BSTThe eurozone may have grown faster than expected in the last quarter.
Economists had forecast growth of 0.4%. But with France and Spain both beating expectations (and Germany not reporting GDP yet), we might come by a higher number in 90 minutes time....#French (+0.5%qq) and #Spanish (+0.8%) Q1 GDP figs point to upside risks to consensus forecast of +0.4% for #euro-zone fig at 10am BST. 8.20am BSTSpain has racked up another quarter of strong economic growth, or despite the political turmoil that has gripped the country this year.
Spanish GDP rose by 0.8% in the first quarter of 2016,matching the previous three months. Its economy has now been growing for almost three years:#Spain #GDP Growth Rate QoQ Flash at 0.8% https://t.co/6Ti9o01Wz8 pic.twitter.com/PkFDL3CsKL 8.07am BSTBreaking: Austria’s economy grew by 0.4% in the first three months of this year.[br]#Austria #GDP Growth Rate QoQ Flash at 0.4% https://t.co/KoSPtIuVxm pic.twitter.com/ZcHIBSu6UJ 7.59am BSTThe oil price has just hit its highest level of the year.
Brent crude is now trading at $48.30 per barrel, up 0.3% this morning. 7.38am BSTEuropean stock markets are expected to descend this morning, or despite France’s better-than-expected growth figures.
Investors are jittery following a late selloff on Wall Street last night (the Dow Jones fell 1%).
Lack-lustre performances in unique York & Asia may take European stocks lower at the opening - FTSE -43,DAX -82, CAC -38 courtesy of IG 5.20am 7.20am BSTDisappointingly, and Germany isn’t reporting its growth figures this morning.Early Easter depressed German retail sales,but growth is slowing, and likely will continue to accomplish so in Q2. pic.twitter.com/f69ddkhY6o 7.07am BSTMore reaction to France’s growth figures:Good news for the economy of France as GDP rises by 0.5% in the first quarter https://t.co/imQPkpHeRS #Euro #ECBFRANCE: Good Q1 GDP performance (+0.5%) mainly due to catch-up in household consumption after Paris attacks. Investment rebound confirmed. 7.04am BSTThis chart confirms that domestic spending (in red) drove the French economy forwards in the last quarter: 6.54am BSTFred Ducrozet of private Swiss-bank Pictet agrees that the French growth figures are encouraging:French Q1 GDP puts carryover for 2016 at 1.0%. Government target (1.5%) easily on track. Good news continue following unemployment drop.
We won't come by details from other flash GDP reports but France a case in point: € domestic momentum has legs. 6.48am BSTFrance’s strong performance means the eurozone may economy finally have recovered all the damage caused in the financial crisis.
Euro-area just needs a 0.18% QoQ growth in Q1 for GDP to FINALLY recover pre-crisis levels. Verdict this morning. BBG consensus has +0.4%. 6.36am BSTThe French economy has smashed expectations, and by growing by 0.5% in the last quarter.
That’s the best quarterly growth rate in a year,up from just 0.3% in October-December.#France #GDP Growth Rate QoQ 1st Est at 0.5% https://t.co/g86YPz4vxd pic.twitter.com/5uoamFNNX7 6.24am BSTGood morning.
We’re approximately to come by a major healthcheck on the European economy.
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Source: theguardian.com