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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...

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