Euro Area Data Update: Softer Trade Data In March

Goldman Sachs reports that its Euro area Q1 GDP tracking is now aligned with official readings, despite March trade data showing softening in major economies like Germany, France, and Italy.

Key Takeaways

• 1.Goldman Sachs' Q1 Euro area growth tracking is now broadly aligned with official flash readings.
• 2.Italian Q1 GDP is tracking at +0.2% qoq, supported by positive net export contributions despite narrowing trade surpluses in March.
• 3.Economic indicators show softer net trade in Germany and France, and slowing activity in Portugal.

Table of Contents

• BOTTOM LINE
• MAIN POINTS
• European Economics Team
• Disclosure Appendix

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