David McNamara: The eurozone economy may be turning a corner at last
Eurozone data suggest some acceleration in growth in the currency bloc.
Last week’s macro data provided further evidence that the US economy is beginning to slow from the rapid pace of growth seen in 2023. The 1.6% annualised rise in GDP in the first quarter was well below the market consensus of 2.4% and reflected a broad-based slowdown in both domestic spending and net exports.
The data showed a weakening in consumer spending growth to 2.5% annualised, from 3.3% in Q4 2023, with US households buffeted by still-high inflation, a moderating trend in income growth, and exceptionally low levels of precautionary savings.
