Eurozone Q1 preliminary GDP -0.6% vs -0.8% q/q expected

Latest data released by Eurostat – 30 April 2021

  • Prior -0.7%
  • GDP -1.8% vs -2.0% y/y expected
  • Prior -4.9%

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A tad better than estimates as this reaffirms some added resilience seen in the Eurozone economy during Q1. Nonetheless, it still confirms a double-dip recession in the region but the positive takeaway is that things aren’t as bad as feared and with the vaccine rollout gathering pace, hopes for a strong rebound in 2H 2021 may yet materialise.

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