This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The EU’s quarterly GDP showed a print of 0.1% in January, missing expectations by 10 basis points. The contraction indicated that the eurozone’s economy grew at a weaker pace than anticipated.
In fact, growth fell to its lowest level since the first quarter of 2013.
European unemployment, on the other hand, remained steady at 7.4%, as expected. However, unemployment in many EU countries remains elevated.
On the other hand, new job growth in Europe was seen in temporary, part-time or self-employed positions.
Why the Current GDP & Employment Print?
Well, for one, the EU has managed to avoid a no-deal Brexit with the UK. However, there is still some uncertainty going forward.
The two partners need to form a smoother transitional draft in order to ease tensions. Otherwise, risk to the downside will prevail. This could have a deeper negative effect onboth the GDP and employment numbers.
In addition, since China is a larger trading partner with the EU than the UK, the trade war between t...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.