Eurozone Q3 preliminary GDP +12.7% vs +9.6% q/q expected 0 (0)

Latest data released by Eurostat – 30 October 2020
The outlook for Q4 looks grim amid tighter virus restrictions and that takes away a lot of the „feel-good“ factor from the last quarter. If anything else, it reaffirms the narrative that the economy cannot quite go back to normal while keeping the health crisis at bay.

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ECB’s Jochnick: The possibility of a double-dip recession cannot be ruled out yet 0 (0)

Comments by ECB banking supervision member, Kerstin af Jochnick
Adding that „the baseline scenario of our projections cannot be taken for granted“. This could be a personal opinion but it also reflects the downside risks to the outlook, which I would expect to be brought up by Lagarde in her press conference later today.

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