020 7898 0500As with the UK, inflation data from the eurozone was released yesterday and came in at 1.3% year-on-year for March 2018. It had been expected to jump to 1.4% from the 1.1% reported in February. Prices of food, alcohol and tobacco didn’t rise quite as much as initially expected.
However, perhaps the main headline should revolve around the eurozone’s construction output for February. In January, it had climbed to its highest mark for more than four years at 6.9% and so a slowdown in growth was reasonably expected. But analysts had forecast a decline to 2.3%, whereas the actual figure was 0.4%. It represents yet more economic data from the eurozone that has markedly come in below expectations and yet again increase fears that the eurozone’s economic projections are too optimistic.
Still, the euro enjoyed a positive day against sterling and retraced all of its recent losses against the pound in the last week or so. There are no key releases for the eurozone today, but on Friday we will see the flash reading of consumer confidence for April. Could this come in way below expectations too?
