Although the UK is officially leaving the European Union, there is still plenty more activity expected today. French GDP figures showed an unexpected, although Spanish figures came in as expected. The expected jump in German sales figures didn’t materialise, although year-on-year numbers did return to positive figures. French household consumption has also dropped.
Later today, we will see Italian growth and then growth and inflation figures for the eurozone as a whole.
Meanwhile, the next stage of Brexit is trade negotiations. Although we can expect plenty of rhetoric from both sides, the actual negotiations cannot start until March, as all member states need to sign off on negotiating goals. There is still a huge amount of uncertainty, with most doubting that a full trade deal can be agreed within the time available, without an extension.
