EU/Eurozone economic growth back at solid levels

[Tender Branson]

Q2, 2017 numbers are out today.

http://ec.europa.eu/eurostat/documents/2995521/8134589/2-16082017-AP-EN.pdf/dc908a55-fc6d-42d8-ac25-d20c44fc40aa

Growth was 0.6% q/q and 2.3% compared with Q2, 2016.

The EU is now growing slightly faster than the US (+0.6%, +2.1%)

https://www.irishtimes.com/business/economy/euro-zone-gdp-growth-of-0-6-in-q2-is-ahead-of-expectations-1.3188427

Austria has grown faster than Germany in Q2: 2.9% vs. 2.1%

And the early numbers for Q3 are very promising as well: The Bank Austria economic indicator for July has reached the highest level in 10 years. And the export indicator from the Austrian National Bank for July shows a massive export growth.

Growth for the year will likely be 2.5% or more.

[Mike88]

The economic numbers from Portugal were a huge disappointment and subject of some laughs also. Everyone from economists, the government and pundits were predicting a strong economic growth of well above 3%. The PM proclaimed that 2017 would be the best year of the 21st century and Marques Mendes, a political commentator, just hours before the release of the numbers said he knew, by his sources, that the economic growth is above 3%.

Well, that didn't happen. The INE revealed the economy grew 2.8% in comparison to Q2 of 2016 and only 0.2% compared to the 1st quarter of 2017. Some economists even say that the growth numbers may be lowered in the next few months.

[Tender Branson]

The economic numbers from Portugal were a huge disappointment and subject of some laughs also. Everyone from economists, the government and pundits were predicting a strong economic growth of well above 3%. The PM proclaimed that 2017 would be the best year of the 21st century and Marques Mendes, a political commentator, just hours before the release of the numbers said he knew, by his sources, that the economic growth is above 3%.

Well, that didn't happen. The INE revealed the economy grew 2.8% in comparison to Q2 of 2016 and only 0.2% compared to the 1st quarter of 2017. Some economists even say that the growth numbers may be lowered in the next few months.

2.8% is not bad for Portugal ...

[Mike88]

The economic numbers from Portugal were a huge disappointment and subject of some laughs also. Everyone from economists, the government and pundits were predicting a strong economic growth of well above 3%. The PM proclaimed that 2017 would be the best year of the 21st century and Marques Mendes, a political commentator, just hours before the release of the numbers said he knew, by his sources, that the economic growth is above 3%.

Well, that didn't happen. The INE revealed the economy grew 2.8% in comparison to Q2 of 2016 and only 0.2% compared to the 1st quarter of 2017. Some economists even say that the growth numbers may be lowered in the next few months.

2.8% is not bad for Portugal ...

Of course not. Its great. The problem is the trend. In the first half of 2016 the economy only grew 1% and by the second half it jumped to number above 2%. The fear many economists have is that the big increase in imports, higher than exports, is putting pressure on the economy and then you have the comparison to good second half of 2016 that might punish the economic growth in the secong half of 2017. And, adding to this, there isn't an economic policy by the government rather than let things roll on and let's see what happens.

The main point of my post was the expectations game. The government putted expectations so high and now there's doubt that 2017 will be a better year than 2007, when the economy grew 2.5%.

[peter88]

Nowadays even Greece seems to be recovering from the crisis. unemployment has been increasing and according to the International Monetary Fund the country's GDP will grow 2,8% in 2017 (source) It still remains to be seen, but with real estate prices twice lower than in Lisbon Greece might seem an interesting spot for investors and that will boost the economy even more

[Zinneke]

Nowadays even Greece seems to be recovering from the crisis. unemployment has been increasing and according to the International Monetary Fund the country's GDP will grow 2,8% in 2017 (source) It still remains to be seen, but with real estate prices twice lower than in Lisbon Greece might seem an interesting spot for investors and that will boost the economy even more

Do you mean decreasing?
 but yeah the only problem is the strong Euro does not benefit Greece.