MNI: PBOC Net Injects CNY198 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1696 Wed; -1.18% Y/Y

MNI BRIEF: NZ Q4 Inflation At 2.2% Y/Y

MNI BRIEF: U.S. Senate Panel Advances Bessent Nomination

MNI China Daily Summary: Tuesday, January 21

MNI: PBOC Net Injects CNY201 Bln via OMO Tuesday

MNI: UK OCT-DEC MEDIAN PAY AWARDS +3.3% :Brightmine

EZ/UK T-Bill Calendar: 3/6/12-Month EU-Bill Auction Wednesday

EZ/UK Bond Supply Calendar: Finland, Spain Synd in Near Future

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Eurozone Macro Signal – Jan 2025: Is The Worst Yet To Come?

Eurozone economic activity continues to be mixed at best overall, and downside risks to the outlook are significant.
EurozoneMarketsStory

Eurozone economic activity continues to be mixed at best across sectors and countries. Despite an uptick on an aggregate basis in Q3, mid-term growth momentum is subdued, with low investment and net exports, while household consumption is seen to exhibit some relative strength. The economic outlook for the bloc became more clouded in recent months amid subdued sentiment and expectations for a less favourable global environment going forward.

  • Economic Activity: Final GDP growth printed 0.4% Q/Q in Q3, but Q4 is only estimated around the 0.1% handle. Annual growth is seen a little higher in 2025 (1.0%) vs 2024 (0.7%) and 2023 (0.4%), but momentum is uneven across sectors and the main countries.
  • Labour Market: The Eurozone labour market continues to show some signs of cooling in recent months but remains overall resilient. Wage pressures continued to moderate recently.
  • Monetary Policy: The ECB appears confident on being able to gradually cut its interest rates down to neutral territory with markets expecting 100bps of cuts in 2025.

PDF ANALYSIS HERE: 

Keep reading...Show less
166 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Eurozone economic activity continues to be mixed at best across sectors and countries. Despite an uptick on an aggregate basis in Q3, mid-term growth momentum is subdued, with low investment and net exports, while household consumption is seen to exhibit some relative strength. The economic outlook for the bloc became more clouded in recent months amid subdued sentiment and expectations for a less favourable global environment going forward.

  • Economic Activity: Final GDP growth printed 0.4% Q/Q in Q3, but Q4 is only estimated around the 0.1% handle. Annual growth is seen a little higher in 2025 (1.0%) vs 2024 (0.7%) and 2023 (0.4%), but momentum is uneven across sectors and the main countries.
  • Labour Market: The Eurozone labour market continues to show some signs of cooling in recent months but remains overall resilient. Wage pressures continued to moderate recently.
  • Monetary Policy: The ECB appears confident on being able to gradually cut its interest rates down to neutral territory with markets expecting 100bps of cuts in 2025.

PDF ANALYSIS HERE: 

Keep reading...Show less