Report
The euro zone’s demand stimulus should not be overlooked
Growth forecasts for the euro zone have become highly pessimistic ; this now includes those of the ECB. Yet the euro zone is being buoyed by a very large demand stimulus: increase in the fiscal deficit, acceleration in wages, fall in inflation thanks to the fall in oil prices, very low interest rates. Even though there is clearly a cyclical slowdown in industry, it is important to not forget that this demand stimulus will provide a large boost to demand for services, and to not succumb to excessive pessimism or be fooled by the contrived and unconvincing arguments (trade war) that underpin the se weak growth forecasts.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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