JP Morgan improves euro GDP outlook, confidence also in US growth

JP Morgan analysts have revised upwards their outlook on the GDP of the euro area for the second quarter of the year.

The upgrade was motivated by confidence in the growth potential of the Eurozone, following the publication of the PMI indices.

JP Morgan now estimates an expansion of the GDP of the euro area, in the period between April and June, equal to +2%, compared to the previous +1.5%.

JP Morgan also showed optimism towards US growth:

cited the trend of the preliminary PMI in April, which “showed an unexpected and widespread improvement”.

“Right now, tighter monetary and credit conditions don’t seem to slow economic activity significantly.”