Economic Update Dutch version
The bright spots for the economy are beginning to emerge. Sentiment indicators increased considerably in May and June. Further, the two year relaxation of Spain’s budget targets allows the country to avoid a tougher austerity effort going forward.
Economic Update Dutch version
The 13Q1 GDP release showed that economic activity contracted for the seventh quarter in a row, making this the longest recession on record. We expect output to fall once again in Q2, but at a more moderate pace. Timely indicators support this view.
Economic Update Dutch version
Germany’s GDP grew 0.1% in 13Q1, primarily driven by private consumption. The cold weather negatively affected growth. We expect recovery to pick up some speed in Q2 on the back of stronger construction activity and solid consumption growth.
