Euro area Q3 growth surprised on the downside

Today’s Q3 GDP flash preliminary estimate for the euro area (EA) surprised on the downside. It averaged only 0.2% qoq (1.7% yoy), clearly lower than market expectation of 0.4% qoq (1.8% yoy) and what our various indicators suggested.

Highlights:

  • Euro area (EA) Q3 growth was only 0.2% qoq, below expectation of 0.4% qoq.
  • However, noise surrounding the German car industry likely played a major role giving leeway for a Q4 rebound.
  • We revised EA growth forecasts slightly down but see no impact on the ECB policy outlook.

Download the full publication below

EURO AREA Q3 GROWTH SURPRISED ON THE DOWNSIDE

RELATED INSIGHTS

COVID-19 FACTS & FIGURES
The World Bank is launching a $4 billion financing platform aimed at boosting the production and supply of critical healthcare products in developing countries.
GLOBAL VIEW – ENJOY SUMMER WHILE IT LASTS
As lockdowns have been lifted and global activity rebounded from the Q2 nadir, hopes of a strong recovery have helped risk assets advance further over July.
Generali Investments among preferred asset managers brands in Europe
We are pleased to share with you the outcome of the first survey on “Preferred Asset Management Firms by European fund selectors” run by Cerulli Associates, in which Generali Investments ranked #11.