31 July 2024 Eurozone Monitor Solid Q2 GDP headline in the EZ, but the details are on the soft side
29th Jul 2024 18:25EurozoneDaily Monitor
- Germany was a laggard in Q2, again; GDP jumped in Spain, and rose solidly in Italy and France.
- We think the Q2 GDP numbers have increased the probability of a second ECB rate cut in September.
- German HICP inflation was hot, but Spain’s was soft; we still see EZ inflation stable at 2.5% in July.
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