EU is the key to the global stock markets
LAST Wednesday, July 7, the European Commission published its latest forecasts for the European Union-wide gross domestic product (GDP) growth. This year, the growth rate will reach 4.8 percent against the prior expectation of 4.3 percent and the positive vibrations will reach into 2022. For the coming year, the GDP growth rate forecast has been upgraded from 4.4 to 4.5 percent.
The GDP rebound in France will even reach 6 percent this year and 5 percent in Italy. By these rebounds, the GDP, in real terms, will be back at the 2019 level in the fourth quarter of this year. This is the forecast for the whole EU area, with Italy still slightly behind other leading EU economies.
The Spanish consumer confidence index jumped to 97.5 in June, which was significantly higher than expected and actually the highest reading since the past two years. The optimism in Spain is linked to the…