27 Feb 2015
Euro area figures show signs of recovery – Danske Bank
FXStreet (Edinburgh) - Senior Analysts at Danske Bank Pernille Nielsen assessed the recent releases in the euro area, which would be pointing to a strong recovery.
Key Quotes
“Euro area M3 money supply strengthened further in January, rising 4.1% y/y after increasing 3.6% y/y in December. Growth in M1 money supply was also higher at 9.0% y/y in January, up from 7.9% in December”.
“The increase in loans to the private sector reflects higher loan growth to households (+0.9% in January from +0.8% in December) and less negative loan growth to nonfinancial corporations (-0.9% in January from -1.1% in December)”.
“The credit impulse, which is important for higher GDP growth, signals GDP is increasing much faster. In yearly terms it points to growth above 2%. Overall, the increase in loans to the private sector supports our view of higher growth in the euro area”.
Key Quotes
“Euro area M3 money supply strengthened further in January, rising 4.1% y/y after increasing 3.6% y/y in December. Growth in M1 money supply was also higher at 9.0% y/y in January, up from 7.9% in December”.
“The increase in loans to the private sector reflects higher loan growth to households (+0.9% in January from +0.8% in December) and less negative loan growth to nonfinancial corporations (-0.9% in January from -1.1% in December)”.
“The credit impulse, which is important for higher GDP growth, signals GDP is increasing much faster. In yearly terms it points to growth above 2%. Overall, the increase in loans to the private sector supports our view of higher growth in the euro area”.