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Noflation alone, won't be dominating governing council meeting in March, when ECB members convene on 10th, especially after today's release of economic dockets.
- Germany, which is Euro Zone's largest and most stable economy, experienced slowdown in GDP growth, much sharper than what was anticipated by economists. According to median estimate, economy was expected to grow by 2.3%, but growth in fourth quarter came at 1.3%, even much slower than prior 1.7%.
Germany however isn't the only one with such experience.
- Italy, which is Euro Zone's third largest economy saw its growth slow down to just 1% in fourth quarter of 2015, lower than median expectations of 1.2%.
As growth turned out to be lacklustre in large economies, worst performing ones suffered much more.
- Greece's economy shrank by 1.9% from a year ago.
Overall growth in Euro Zone was positive but anemic. Economy grew 0.3% on quarterly basis, up 1.5% from a year ago.
Expect corporate profitability and outlook to suffer too as Euro reversed its recent downward slide and rose as much as 4.5% against Dollar in last three months. Euro is currently trading at 1.128 against Dollar.
