Q2, 2014 GDP data out on Thursday for the EU/Eurozone

[Tender Branson]

Will be very mixed:

The UK, Spain and Greece will have really good GDP figures, while the German and Italian GDP growth will likely come to a standstill (maybe even a decline in Italy). Austria, which is in between Germany and Italy (the biggest trading partners), will certainly feel the downturn as well.

France is the big unknown component (but the chances are that there wasn't much growth either).

Alltogether, growth for the Eurozone should be 0.2-0.4% quarter-on-quarter and 0.3-0.5% for the EU-28 (because of the good UK numbers).

[Tender Branson]

Germany's economy actually declined by 0.2% on a q/q-basis.

https://www.destatis.de/EN/PressServices/Press/pr/2014/08/PE14_287_811.html

Italy was also down by 0.2%

http://www.istat.it/en/archive/130067

Austria, which is in between both countries, actually had 0.2% growth

http://www.wifo.ac.at/jart/prj3/wifo/resources/person_dokument/person_dokument.jart?publikationsid=47441&mime_type=application/pdf

...

Other countries so far:

UK: +0.8%
Hungary +0.8%
Spain: +0.6%
Slovakia: +0.6%
Belgium: +0.1%
France: 0.0%
Czech Republic: 0.0%
Romania: -1.0%

http://blogs.wsj.com/moneybeat/2014/08/14/euro-zone-gdp-live

[Tender Branson]

With these numbers, the Eurozone might be back into recession territory (likely -0.1% q/q).

[Tender Branson]

Netherlands just reported some good numbers for Q2, so it's more likely that the Eurozone just stagnated in Q2, with the EU-28 up by 0.1%

Eurostat will be out with the numbers soon.