Eurozone Q2 growth is likely slower - BBH

Research Team at BBH, notes that the ECB President Draghi rendered moot any interest there may have been in the final revision of the Eurozone’s Q1 GDP. 

Key Quotes

“He noted that Q2 growth is likely slower.  The details of Q1 will likely show that the 0.5% expansion was driven by consumer spending and investment.  Rather than data, which will not change the investment climate one iota, the most important development in the EMU this week is the beginning of the ECB's corporate bond purchase program.  It is likely to begin off slowly with a few billion euros being bought in the first week.  As with the case of the asset-backed bonds, covered bonds, and corporate bonds that are already being purchased, the ECB will provide a weekly update of its efforts.”