Europe: The second Quarter will be an improvement on the first

Summary

The eurozone’s recovery continues to be slow, although the second Quarter ought to be better than the first (0.2%), which came in below expectations (0.4%). The data from the last six weeks point to growth of 0.3% in 2Q, and remain consistent with our GDP growth forecast of 1.1% in 2014, while inflation for the year as a whole could be around 0.6-0.7%.

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