Eurozone Q1 GDP revised upwards

June 7, 2016

Euro zone first quarter gross domestic product has been revised upward, beating market's expectation of no change in the revision statistics. Optimism seems to emanate from a buoyant environment of consumer spending at the start of 2016, emerging from a weak Euro and still declining crude oil prices.

Quarterly economic growth in the Eurozone hit 0.6 percent in the first three months of the year, revised up from an earlier estimate of 0.5 percent, data released by the Eurostat showed. However, the statistics agency seems unclear about the GDP figures of the Euro area. The first estimate was 0.6 percent, which was revised downward to 0.5 percent in the second round, and now in the third report, which includes details on GDP components, the figure has been revised to its original estimate.

Meanwhile, annual growth remained unchanged at 1.7 percent, from the fourth quarter, driven by a jump in consumer spending and investment. Imports also outpaced the rate of export growth, rising by 0.7 per cent, while the value of goods sold was 0.4 percent.

Greece remained the single Euro area which fell into outright contraction at the beginning of the year, shrinking by 0.5 percent.

Publication source
Vinson Financials Ltd information  Vinson Financials Ltd reviews

September 23, 2016
Risk rating
The market is in need of a new narrative. The Fed meeting in December is too far off and for now, the US election is not something that entices excitement. With central banks on hold, markets are pushing the envelope in terms of risk...
September 23, 2016
Greenback regains some ground
On Friday, the evergreen buck regained some ground against other key currencies, as markets kept digesting the Fed’s latest policy decision...
September 23, 2016
Dollar rebounds slightly as precious metals are in a hot zone
The US Dollar rebounds after a substantial selloff led by the FOMC decision to leave the interest rate unchanged. The Dollar index, which tracks the US currency against major peers, recoiled with support at a 95.00 level on Thursday, adding 0.05% to the 95.36 price in the early Friday session...

XM Rating
FXCM Rating
FxPro Rating
Larson&Holz IT Ltd Rating
Tickmill Rating
Orbex Rating

EZTrader Rating
OptionBit Rating
IQ Option Rating
24option Rating
TropicalTrade Rating
Beeoptions Rating