The final quarterly GDP revision for the Euro Area surprised analysts yesterday, rising 0.40% for the quarter and about 1.50% for the year, beating estimates on both front and up from 0.30% and 1.20% respectively compared to the previous quarter. The uptick in the Euro Area aggregate GDP comes a week after the ECB cut its projections for 2015 GDP growth which is expected to show that the regions GDP grew at a pace of 1.40%. Projections for 2016 expects GDP growth to rise modestly to 1.70%. The Euro did not react much to the positive data as the momentum in global risk sentiment overshadowed the markets since the G20 was held in Turkey and ahead of the all important upcoming FOMC Meeting with a decision due on September 17th.
Euro GDP Surprises
Daily Analysis - 09/09/2015