Eurozone activity data are expected to continue to firm
In the euro area business and consumer surveys for April will provide a first steer on whether the upturn in economic growth has continued into Q2. Lloyds Bank - "We expect the message to be generally positive. The 'flas…
In the euro area business and consumer surveys for April will provide a first steer on whether the upturn in economic growth has continued into Q2.
Lloyds Bank - "We expect the message to be generally positive. The 'flash' euro area manufacturing and services PMI for April (Thurs), and the European Commission's measure of consumer confidence (Wed) are all expected to be up on the month. That is also forecast to be the case for the German ZEW survey (Tues), PMIs (Thurs) and IFO (Fri). Possibly the only discordant note may be the PMIs for France which are expected to show that the pace of economic activity there remains more sluggish."
The survey data for Q1 point to an improved pace of GDP growth in that quarter and the expectation that this will continue. Moreover, with ECB President Draghi ruling out an early tapering of the QE programme the likelihood is that monetary policy in the euro area will remain supportive of growth for some time yet.
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