Similarly, in France, real GDP growth was driven by private consumption and net exports, offset partly by significant destocking. In Germany, net exports again provided the main driver for overall growth
the forecasting horizon.
Nevertheless, private consumption in the Eurozone should lose momentum in Q2, mainly as a result of the expiration of the car scrappage scheme in France. Consumption should be more robust
of respondents are even forecasting an upturn in business. Italy seems to be lagging behind, with a negative index (-29). However, France and the United Kingdom stand out as the most pessimistic markets (with
Republic, Estonia, Ireland, Greece, Spain, France, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, and the United Kingdom) and two candidate
the exchange rate trends pose yet another threat. Over the past few months the Swiss Franc has gained in value not just against the Euro but also against numerous other currencies such as the US dollar