Eurozone Q2 flash GDP preview - HSBC

In its latest client note, analysts at HSBC forecast an upswing in Eurozone growth for the second quarter.

Key Quotes:

“Throughout Q2, survey data have pointed to an upswing in Eurozone growth.

The slight fall in inflation compared to the 1.9% y-o-y peak reached in April could have given some breathing space to consumption, a key driver of Eurozone growth so far.

We see Eurozone growth at 0.5% q-o-q in Q2, corresponding to an annual growth rate of 2.0%. However, given the strength of the recent industrial production data, which account for about 20% of GVA, there could be some upside risks to our growth forecast.”