Wednesday, July 7, 2010

Euro Zone GDP Revision-07.07.2010

Euro area1 (EA16) and EU271 GDP both increased by 0.2% during the first quarter of 2010, compared with the previous quarter, according to second estimates from Eurostat, the statistical office of the European Union. In the fourth quarter of 2009, growth rates were +0.1% in the euro area and +0.2% in the EU27.

In comparison with the same quarter of the previous year, seasonally adjusted GDP rose in the first quarter of 2010 by 0.6% in the euro area and by 0.5% in the EU27, after -2.1% and -2.3% respectively in the previous quarter. In the first quarter of 2010, among Member States for which seasonally adjusted GDP data are available, Ireland (+2.7%) recorded the highest growth rate compared with the previous quarter, followed by Sweden (+1.4%) and Portugal (+1.1%).


Always happy to see an upward revision in GDP numbers for the EA 16. What does this data mean other than confirming that statisticians cannot make precise calculations? Nothing. The current problems of growth, liquidity, & solvency in the EA 16 will reveal themselves to us at an unexpected time, with robust data/rumors.

It looks like Dwayne Wade and Chris Bosh will team up in Miami according to ESPN's Chris Broussard. All the more reason for The King to play in the greatest city in the world, NYC!

Related ETFs: iShares MSCI Spain Index Fund (EWP:US), SPDR EURO STOXX 50 ETF (FEZ:US), iShares MSCI EMU Index Fund (EZU:US)

Patrick M. Ambrus
Analyze Capital LLC
Managing Partner

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