Official GDP for the euro zone showed some modest improvement in the second quarter, posting growth of 0.3 percent (quarter-on quarter) which beat analysts’ estimates in a Reuters poll of 0.2 percent. This was welcome news after a record 6 quarters of negative growth. The upside came courtesy of some positive gains in France and Germany, but the sustainability of this momentum remains unclear. Big picture perspective is captured well in this chart.
Moorad Choudhry, IPO treasurer at RBS warns against being too optimistic on the back of one positive set of figures. Here is a direct video.
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