- Prior -0.1%
- GDP +0.6% vs +0.5% y/y expected
- Prior +1.0%
The slight beat is at least a welcoming number for the ECB but the outlook is still very much uncertain. Dark clouds are circling the euro area economy to start Q3 and if they do signify a stronger downturn in the months ahead, that will make the ECB’s job to push any further tightening agenda a tough one.