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MNI: MNI:EMU GDP slows for the 1st time since........>

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MNI (London)
MNI: MNI:EMU GDP slows for the 1st time since 2016; Analysts' Correct Call 
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Preliminary flash data published by Eurostat Wednesday reported EU19 growth
moderating sharply in in the first quarter of 2018. Growth slowed from 0.7% q/q
in Q4 2017 to 0.4% q/q in Q1, the first deceleration in quarterly growth since
Q2 2016. Analysts correctly called the Q1 q/q growth rate for only the second
time since 2006 (accepting relative newness of prelim flash release), with
previous MNI analysts highlighting a clear tendency to underestimate Q1 growth.
Despite coming in softer, there was no downside surprise like in the UK last
week and growth remains robust when viewed in the context that the last time it
contracted on a q/q basis was half a decade ago. On the year, growth moderated
to 2.5% from 2.8%, the first decline since Q1 2016.  
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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