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MNI: EUROZONE DATA: Preliminary Flash GDP (Q1........>

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MNI: EUROZONE DATA: Preliminary Flash GDP (Q1 2019) Review
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- The Eurozone economy grew by 0.4% q/q & 1.2% y/y in Q1...
- ... beating market expectations of 0.3% q/q & 1.1% y/y
- The quarterly pace of growth has doubled compared to Q4... 
- ... and suggests that the economy is in a healthier state than has been
signalled by recent survey indicators
- Nevertheless, with at least some of the Q1 rebound driven by the reversal of
temporary factors which weighed on the economy late last year...
- ... the pace of growth is likely to moderate somewhat in Q2
- Indeed, a sustained turnaround is unlikely to materialise before H2... 
- ... as elevated uncertainty weighs on consumer and businesses spending
- Nevertheless, today's data will offer some reassurance to ECB policymakers,
who have turned increasingly dovish in recent months...
- ... while they will maintain a cautious approach as a multitude of risks hang
over the outlook, today's data should offer some quiet confidence

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