On Friday, the eurozone’s inflation rate for January 2019 was released and came in at 1.4%. This was unchanged from the preliminary estimate and below December’s reading of 1.5%. It is the lowest rate of inflation since April 2018 and was largely down to a slowdown in energy inflation.
The Ifo business climate in Germany fell 0.8 points from a month earlier, while the German GDP growth rate for the fourth quarter of 2018 was confirmed at 0% – narrowly avoiding a technical recession.
Today is fairly quiet across the board, but tomorrow we will have Germany’s Gfk consumer confidence reading for March. It is expected to remain steady at 10.8. On Wednesday, we will see a raft of releases, including February’s economic and industrial sentiment for February and the business confidence reading for the same month.