DECRYPTION – Households and businesses are becoming increasingly aware of the bleak outlook.
“Good news! Eurozone economy beats expectations in second quarter“Reacted on Twitter the Commissioner for the Economy, Paolo Gentiloni, on Friday, to the publication of growth estimates in the euro zone for the second quarter.
The growth rate of 0.7% measured by Eurostat is indeed a good surprise, compared to the 0.2% anticipated by most economists, including those of the Bloomberg agency and Barclays Bank. “Uncertainty remains high for the coming quarters and there is a need to maintain unity,” nuance, however, the Italian commissioner in the same message.
The ex-locomotive
The picture is indeed clouded by several factors, including inflation, which reached a new record in July, at 8.9% over one year, causing the ECB to tighten its key rates. The good figure of 0.7% also hides significant disparities between the 19 States of the monetary area.
Read also French growth rebounds in the second quarter
Sweden is thus at the top of the ranking with growth…
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