Preliminary Flash GDP (Q4 2019).......>

EUROZONE DATA: Preliminary Flash GDP (Q4 2019) Preview - 1000GMT 31/1/20

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- Bloomberg Consensus(Q4): 0.2% q/q, 1.1% y/y; Prev (Q3): 0.3% q/q, 1.2% y/y 

- EZ q/q GDP is forecast to slow to 0.2% in Q4 after Q3's revised 0.3% 

- On an annual basis, GDP growth is anticipated to slow further to 1.1% after

coming in at 1.2% for two consecutive quarters. 

- Q3 GDP was bolstered by a positive contribution to growth of household

consumption (+0.3pp), exports (+0.3pp) and imports (+0.5pp) 

- Retail sales rose in Nov after a small dip in Oct, while industrial production

slumped in Oct and grew in Nov. 

- Fwd-looking surveys suggest a muted outlook for Q4 with the ESI falling

markedly in Q4, due to a deterioration in manuf sentiment. 

- The EZ's composite PMI registered closely to the 50-no-change mark throughout

the fourth quarter, suggesting stagnation of the economy. 

- So far state-level data is only available for Austria, which showed an uptick

to 0.3% q/q, and Belgium, revealing a stable reading at 0.4% q/q.