The Bank of Greece’s recent report on the global economy and markets showed growth in Euro area purchasing managers’ indices (PMIs).
Euro area growth in particular is a continuation of factors
indicating upside risks to estimated GDP growth of 0.4 percent quarter on
quarter for 2016’s fourth quarter and 2017’s first quarter.
In the U.S., the last quarter of 2016 showed GDP growth at 1.9
percent for the quarter on quarter seasonally adjusted annual rate, compared to
the third quarter’s 3.5 percent. The 2016 GDP saw a 1.6 percent increase,
compared to 2015’s 2.6 percent. U.S. economic growth expectations are tied to the
new administration’s emerging economic policies. The Bank of Greece placed
a particular emphasis on the U.S.'s potentially fraught trade relationship
with China, though China has seemed conciliatory in relation to intellectual
property rights and easing restriction on foreign investments in areas like
The MSCI World increased by 1.0 percent week on week, while
the S&P hit a record intra-week of 2298, with construction and engineering
stocks increasing significantly. The FTSE 100 lost 0.2 percent week on week,
and the Bank of Greece noted the UK Supreme Court’s decision that Parliament
must vote on the EU treaty exit. Government bond yields also saw increases,
with 10-year U.S. Treasury yields increasing to 2.49 percent and 10-year Bund
yields increasing to 0.46 percent.
Bank of Greece's global economy and markets report shows growth in Euro area PMIs
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