7 Sep 2015
Eurozone Q2 GDP preview: Likely to be unrevised - Nomura
FXStreet (Delhi) – Research team at Nomura, believe that the Euro area’s forthcoming growth numbers on Tuesday are likely to be unrevised at 0.3% for the second quarter.
Key Quotes
“We expect the second estimate of euro area Q2 GDP to be unrevised at 0.3% q-o-q, though see a risk of a slight upward revision to a low 0.4% q-o-q owing to upward revisions of the Italian and Greek Q2 GDP numbers.”
“We expect Q2 GDP growth to be supported by ongoing private consumption growth (albeit at a slower pace than in Q1) and a positive net trade contribution, but for investment growth to remain sluggish after a strong expansion in Q4 2014.”
“We also expect Q1 GDP growth to be revised up to 0.5% q-o-q (from 0.4% q-o-q previously), which would bring our annual average GDP growth forecast to 1.4% in 2015 (in line with the September ECB macroeconomic projections, which also expect a Q1 2015 revision).”
Key Quotes
“We expect the second estimate of euro area Q2 GDP to be unrevised at 0.3% q-o-q, though see a risk of a slight upward revision to a low 0.4% q-o-q owing to upward revisions of the Italian and Greek Q2 GDP numbers.”
“We expect Q2 GDP growth to be supported by ongoing private consumption growth (albeit at a slower pace than in Q1) and a positive net trade contribution, but for investment growth to remain sluggish after a strong expansion in Q4 2014.”
“We also expect Q1 GDP growth to be revised up to 0.5% q-o-q (from 0.4% q-o-q previously), which would bring our annual average GDP growth forecast to 1.4% in 2015 (in line with the September ECB macroeconomic projections, which also expect a Q1 2015 revision).”