Back
5 May 2016
Europe as the front-runner? - BNPP
Analysts at BNP Paribas explained that for the third year in a row, the eurozone grew faster than the US… in the first quarter of the year: +2.4% versus +0.5% (quarterly annualised growth).
Key Quotes:
"Unlike 2015 or 2014 though, the early-year slowdown in the US was not the consequence of temporary factors like strikes or bad weather.
As for Europe, detailed national accounts are not available, except for France, which is usually in line with eurozone average. It benefited from strong households spending and a rebound in business investment.
That is the exact negative of the components of US growth, where corporates cut investment and consumers slowed (a bit) their spending. As for the second quarter, Europe will likely record a set-back in growth. But this time, a rebound in the US is not a given bet…"
Key Quotes:
"Unlike 2015 or 2014 though, the early-year slowdown in the US was not the consequence of temporary factors like strikes or bad weather.
As for Europe, detailed national accounts are not available, except for France, which is usually in line with eurozone average. It benefited from strong households spending and a rebound in business investment.
That is the exact negative of the components of US growth, where corporates cut investment and consumers slowed (a bit) their spending. As for the second quarter, Europe will likely record a set-back in growth. But this time, a rebound in the US is not a given bet…"