The main release of yesterday was the eurozone GDP growth rate for 2017. Year-on-year, the eurozone’s economy grew by 2.7% in the fourth quarter of 2017 and over the entire year, the economy grew by 2.5%. Further signs that Europe’s economy is in full recovery mode.
Despite this, the single currency found itself sliding against the pound although it did climb a little higher against the dollar. Business confidence for January came in a bit below expectations but consumer confidence fell in line with what analysts had been expecting.
Today we will see the unemployment rate for Germany in January and the eurozone’s unemployment rate for December. We will also see German retail sales for December which, like the UK, are expected to fall from the month before.