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EU: Slight upside GDP surprise masks future disruption risks
Eurozone GDP growth came in at +0.2% quarter-on-quarter in the third quarter, outperforming both consensus expectations and our own in-house forecast of stagnation. While detailed data are still limited, national statistics suggest that gross fixed capital investment in machinery and equipment was a key driver of the upside surprise. Consumption and export figures vary across member states, with some reporting strong growth and others showing declines. However, it appears that increased consumer demand for energy goods—which had subtracted from growth in the previous quarter due to mild temperatures— supported ... (full story)
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