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2022/07/29 / Erste Group Research
Week Ahead

Eurozone GDP growth in 2Q higher than expected

Today, flash estimates for 2Q GDP growth in the Eurozone countries were released. The EZ surprised markets with strong q/q momentum of +0.7% (1Q: +0.5%), despite inflationary pressures and global uncertainty. Compared to the previous year, 2Q GDP growth was a solid +4.0% (1Q: +5.4%). Top performers included Italy and Spain. Austria also surprised positively.

The International Monetary Fund (IMF) has revised its growth forecasts significantly downwards. The IMF now expects global growth of +3.2% (-0.4 pp compared to April) in 2022 and +2.9% (-0.7 pp compared to April) in 2023. The revisions for China and the US are the main drivers of lower global growth expectations.

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General information

AuthorErste Group Research
Product typeweekly / bi-weekly
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Market cap-
AvailabilityAll [1]


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