EUR: Eurozone data remains upbeat as Spain is back to pre-crisis levels

There were further positive signs for the Eurozone on Friday as inflation in Germany was higher than expected, posting a monthly increase of 0.4% against expectations of 0.2%. In addition, Spain’s economy grew by 0.9% in the second quarter. This shows that the economy has finally grown back to the size it was before the credit crunch of 2008.

Looking to the week ahead, there is a significant amount of data set to hit the wires. The key data releases are due in the early part of the week. Today we have the region’s inflation and German retail sales. Inflation is expected at 1.3% but following the positive reading from Germany this could be slightly higher than expected. On Tuesday we have the region’s first release of second quarter growth figures followed by the Spanish unemployment figures on Wednesday.