Analysts at ANZ note that for the first time in a while, economic growth across Europe’s major economies is showing some more backbone.
“Overnight Germany recorded very strong Q3 growth of +0.8% q/q, +2.8% y/y WDA. Notably, exports and investment were strong according to DeStatis. So far this year, Germany has been growing at a 3% annualised pace. But others are joining the party, with euro area Q3 GDP rising 0.6% q/q, +2.5% y/y. In the other big three economies, growth in France was 2.2% y/y, Italy 1.8% y/y and Spain 3.1% y/y.”
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