The Eurozone’s Economic Climate is Improving
The European Commission announced that the Eurozone economic sentiment index rose to 93.4 in February from the previous value of 91.5, the highest since March of last year and also higher than market expectations of 92. During the period, the industrial prosperity index rose to minus 3.3, which was higher than market expectations of minus 5, and the previous value of minus 6.1. The service industry prosperity index rose to minus 17.1, higher than market expectations of minus 18.1, and the previous value of minus 17.7. Although the economic climate in the Eurozone continues to improve, it is still below the level of more than 100 before the pandemic.
U.S. GDP in 2020 Q4 was Revised Higher than the Initial Value of 4%
The annualized quarter-on-quarter growth of the US gross domestic product (GDP) in the fourth quarter of last year was revised up to 4.1%, which is higher than the initial value of 4%, but slightly less than the 4.2% expected by the market. During the period, the personal consumption expenditure (PCE) price index rose 1.6% quarter-on-quarter in inflation figures that are closely watched by the Fed, and the core PCE price index maintained a quarter-to-quarter rise of 1.4%, in line with market expectations.