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Malta
RGE's Q2 2010 Eurozone Outlook
RGE's improved outlook is mostly concentrated in the manufacturing sector, where industrial production data for January and February registered a welcome bounce-back in line with the soaring PMIs. The March PMI reading finally crossed the 50 threshold although the hard data continue to disappoint. New orders for January are mixed, with only Germany clearly profiting from the improved external environment among the large economies. The effective euro depreciation of about 6% since H2 2009 will allow the eurozone, driven by Germany, to participate more comprehensively in strong world growth momentum through improved exports.
Manufacturing activity, however, accounts for only about 18% in the eurozone and the outlook for services, which are mostly driven by domestic demand, is much more subdued. Indeed, retail sales continue to decline and new car registrations have been slowing down sharply in view of the gradual phasing out of car scrappage schemes across different eurozone countries.
Read the Q2 2010 Eurozone Outlook
Economic Research
Daily Digest
Analysis
Euro area and EU27 GDP: Flash estimates for the first quarter of 2010
Eurostat May 12, 2010
Analysis
Report on the lessons learned from the financial crisis with regard to the functioning of European financial market infrastructures
ECB Apr 19, 2010
Research
EU accession: A road to fast-track convergence? The period of EU accession made a significant difference to the growth performance of the New Member States
European Commission Dec 21, 2009
Analysis
Autumn forecast 2009-2011: EU economy on the road to a gradual recovery
European Commission Nov 03, 2009
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