Eurozone nowcast indicator stable in week 5
(MENAFN - ING) Our index increased from 92.4 to 92.9 in the first week of February, which is a broadly unchanged reading of the indicator. The good news is that the bottom seems to have been reached, but the bad news is that weakness is now lingering as lockdowns are extended confirming our expectations of another contraction in the first quarter of 2021 after eurozone GDP fell by -0.7% in the last quarter of 2020. The underlying indicators showed differing movements. There was a strong decline in electricity usage, which is usually volatile. On the positive side, there was a small increase...
Source: menafn.com