Today's release of euro area GDP will probably mark the end of six quarters of recession. Our hard data model suggests a 0.1% q/q increase. Following predictions from the Federal Ministry of Economics that the German economy probably grew about 0.75% in Q2, the available country data now suggest some upside risk to this estimate.
Country GDP data released earlier in the morning will show that euro area growth remains uneven, though soft data indicate that most member states are about to leave recession soon. We expect German GDP to have grown 0.7% q/q, while France will probably have to live with a less impressive 0.0% q/q.
Bank of England minutes (10:30 CET) will provide information about the discussion and voting on adopting the forward guidance linked to last week's unemployment data. We expect the vote on forward guidance to be unanimous as it would weaken the commitment with a divided MPC. Furthermore, UK unemployment is due for release today and an unchanged reading of 7.8% is expected.
Swedish industrial production and orders are expected to show improvement in June following surprisingly weak April and May figures.
To Read the Entire Report Please Click on the pdf File Below.
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Wednesday's Danske Daily Data Outlook
Published 08/14/2013, 07:23 AM
Updated 05/14/2017, 06:45 AM
Wednesday's Danske Daily Data Outlook
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