CHART OF THE WEEK
The second estimate of Eurozone growth figures indicates a slight upward revision in 2015 Q4 GDP to +1.3% year-on-year. The figures included a breakdown of growth per category as well as the contribution from each component.
Our analysis
The figures published show that growth is still being driven by domestic demand. Foreign trade was a negative pull due to the sharp increase in imports as a result of the robust domestic demand. Investment is still gaining pace and increased 3.4% year-on-year (as of December 31st, 2015). Excluding Q1 2011, growth is rising at its fastest pace since 2007.
The opinion expressed above is dated as of March 11th, 2016 and is liable to change.
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