Europe Returns to Growth

Big Picture

May 15, 2015

Europe took centre stage this week and it was for all the right reasons. There has been much hand-wringing over the lack of inflation and growth on the continent for months but Wednesday the European Union reported GDP euro-zone growth expanded 1.6% on an annualized basis during Q1. That bested growth expectations in the US and UK over the same period providing powerful evidence that stimulus efforts are working. The good news left traders fidgety however as they worry the news may be good enough to end the ECB’s massive 60-million euro a month bond purchase program.

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