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After the positive surprise sprung by Germany’s IP, and the solid m-o-m increase in Spanish production, analysts at Nomura expect euro area IP to increase by 1.2% on a m-o-m basis, showing some signs of recovery after the weakness in Q1 2018.

Key Quotes

“We would be cautious in reading too much into one month’s data however and are unlikely to be convinced that this rebound will earmark the start of a major upward trend.”