Eurogroup meeting: Italy’s recession and the lack of transparency on the Eurogroup
The Eurogroup is meeting today. Data released by the Italian National Institute of Statistics has confirmed once more that the third largest economy of the Europe has fallen into recession in the last semester of 2018. Moreover, Italy is forecasted to be the slowest Eurogroup economy this year and the country’s economic. In addition to the expected discussion regarding the country’s worrying situation, the meeting might also be interesting, as the committee and specially Mr. Mario Centeno will tackle the just published critical report on the Eurogroup lack of transparency.
UK GDP Release: How is Brexit uncertainty changing the British economy? Today, UK GDP (both monthly and quarterly), manufacturing production and business investment data will come to day light. This data should give us indications on how the Brexit uncertainty is shaping the economy. Although worrying signs have already arisen, specially the BoE weak forecasts on the GDP and the Purchasing Managers Index data suggesting economic agents are postponing purchasing plans, no one can predict with a significant level of confidence how the country’s economy will be impacted. The release of these new data might shed more light on this process’ economic implications.
On Thursday 14th, important macro data from China and Germany&Eurozone will be released. China’s trade data are particularly important, as concerns regarding the world’se second largest economy are growing. Germany&Eurozone GDP data will be released; however, the focus will be on the largest eurozone economy as analysts fear it has fallen into technical recession on the last quarter.