Two EU economies end 2020 with surprising GDPs
SLIVER OF HOPE? While data in Spain and France signal that firms have found ways to cope with COVID-19 restrictions, the outlook in the two nations remains gloomy
Bloomberg
Two of the eurozone’s four largest economies ended last year suggesting that the region can avoid a deeper recession, while still facing headwinds from extended lockdowns amid the COVID-19 pandemic.
Spain’s GDP unexpectedly increased 0.4 percent, defying expectations for a 1.4 percent drop. Output in France fell a less-than-expected 1.3 percent, after consumer spending rebounded sharply in December.
While data signal that businesses have found ways to cope with restrictions, the outlook in both countries as in much of the rest of the region remains gloomy.
Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr
LONDON, Jan 25 (Reuters) - Euro zone bond yields were little changed on Monday and Italy’s borrowing costs edged off two-and-a-half-month highs as investors continued to weigh political developments in one the bloc’s biggest economies.
Italian Prime Minister Giuseppe Conte is close to resigning, but hopes then to form a new government that can count on a broader majority, local media reported on Monday.
According to La Repubblica, Conte could hand in his resignation to the head of state as early as Tuesday and then form a fresh coalition that would draw on centrist and “responsible” members of parliament.