020 7898 0500Construction output for the eurozone in January came in at 3.7% yesterday from an upwardly revised 1.4% in December. It is the strongest gain in construction output since June 2017 when the figure jumped by 3.9%. It is a healthy reading and represents a strong start to 2018. On the flip side, the balance of trade came in below expectations, although it still showed a surplus of €19.9 billion.
Today we have the German ZEW economic sentiment index. It is a survey of up to 300 experts from banks, finance departments and insurance companies and is seen as a leading indicator for the German economy. Economists are suggesting the figure could drop from 17.8 in February to 13.1 in March which would be quite a fall. We will have to wait and see if the forecast proves accurate.
We will also see the eurozone’s consumer confidence flash reading for March which is expected to drop to 0.0 from 0.1 the month before.
