FXStreet (Łódź) - Jim Reid from Deutsche Bank comments on the weak Eurozone Q2 GDP data, suggesting that the outlook for th esecond half of the year doesn't look bright either.
"The euro area GDP came in flat at 0.0% QoQ. This proved to be weaker than already lowered expectations."
"There are some noise in the data related to the drop in German construction after the weather driven boom in Q1 but persistent weakness in French residential investment and a Russia-related drag on European exports also added to the weakness."
"Looking ahead our European economics team thinks the H2 growth expectations are vulnerable and appears to be concerned about a pause in activity on the back of geopolitical uncertainties."
"As for their view on the ECB they now think that private debt QE in 2015 is not just possibility but a probability."