020 7898 0500It was a bit of a mixed day for the eurozone, as we learned that the GDP growth rate for the second quarter of 2018 slowed to 2.1% from 2.2% in the first quarter. The economy grew by 0.3% on quarter in the three months to June 2018, which was also below expectations of 0.4%. It is the weakest growth rate since the second quarter of 2016.
However, there was some positive news, as German retail sales smashed forecast by coming in at 3% against an expectation of 1.5%. Month-on-month they also performed better than expectation, by rebounding to 1.2% from -1.5% in the previous period.
Today we will see the Markit manufacturing PMI figures from Germany and the eurozone. Both are expected to have increased from the month before and if this proves to be the case we could see some euro strengthening.
