12 Feb 2016
Eurozone and German GDP in the limelight - TDS
Research Team at TDS, suggests that GDP is out for Germany and the euro area aggregate for 15Q4.
Key Quotes
“We see downside risks to Germany on weak IP growth and look for a Q4 print of 0.2% Q/Q, versus consensus for 0.3%. Eurozone GDP looks more likely to meet expectations for a 0.3% Q/Q print for Q4, as the strong Spanish figure (0.8%) and decent Italian recent today, as well, should be enough to offset the Q4 weakness in the core.
GBP: Construction activity in the UK likely picked up by 0.4% m/m in December, reversing weakness seen in November. While the relationship between the PMI Construction and the official construction data has largely broken down (with today’s release the less reliable of the two), we still think that the relatively sharp move in the PMI in December should provide at least some support to construction activity in the month.”
Key Quotes
“We see downside risks to Germany on weak IP growth and look for a Q4 print of 0.2% Q/Q, versus consensus for 0.3%. Eurozone GDP looks more likely to meet expectations for a 0.3% Q/Q print for Q4, as the strong Spanish figure (0.8%) and decent Italian recent today, as well, should be enough to offset the Q4 weakness in the core.
GBP: Construction activity in the UK likely picked up by 0.4% m/m in December, reversing weakness seen in November. While the relationship between the PMI Construction and the official construction data has largely broken down (with today’s release the less reliable of the two), we still think that the relatively sharp move in the PMI in December should provide at least some support to construction activity in the month.”