- GDP growth weakened at the start of the year slowing from 0.7% in the final quarter of 2016 to 0.3% in the first three months of 2017. This is attributed to the slowdown in consumer-facing industries.
- The strong momentum in manufacturing activity seen in the second half of 2016 looks set to continue this year. Manufacturing grew by 0.5% in the opening quarter of the year.
- Manufacturing PMI point to an acceleration in the pace of expansion as we enter the second quarter of the year.
- Euro area manufacturing activity is at six-year high.3
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