Daily Alert – Tuesday 30th January 2024: Eurozone GDP is horrible

Mark NugentDaily Alert, January 2024

Daily Alert – Tuesday 30th January 2024: Eurozone GDP is horrible

Good afternoon.

German GDP was negative for the fourth quarter of 2023. At the eurozone level, GDP came in at 0.1% on a q/q basis and 0.0% on a y/y basis. Not good at all. There’s no way the European Central Bank will hike rates again. It’s pivot time, no doubt.

In the US, we see yet more evidence of the resilience of the economy. The JOLTS Job Openings report showed robust job growth that was significantly higher than expectations.

I will have a good look at the Euro later tonight. I go into detail in the video.

I’ll be back tomorrow.

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