More reassurance on UK #inflation ... 👍

The British Retail Consortium suggests annual shop price inflation eased again in April, to 0.8% from 1.3%, with non-food prices now 0.6% lower than a year ago.

#Food inflation still elevated at 3.4%, but down from 3.7% in March.

brc.org.uk/news/corporate…

Nothing in today's #euro area #inflation data to prevent the #ECB from cutting rates at the next monetary policy meeting in June... 👇

Headline measure flat at 2.4%, but 'core' and services still easing 👍

ec.europa.eu/eurostat/en/we…

💥 latest estimates suggest that the euro area exited #recession in Q1, with #GDP rising 0.3% q/q (revised data show falls of 0.1% in both Q3 and Q4 last year) 👇

Even #Germany positive at +0.2%, though this failed to reverse a 0.5% contraction in Q4.

ec.europa.eu/eurostat/en/we…

'Bonnet de douche!', as Del Boy would say... 😉

French economy grew 0.2% in Q1, boosting chances of a positive number for the euro area as a whole (data out at 10am)

reuters.com/markets/europe…

FYI, construction of Sagrada Família began in 1882, and it's still not finished... 🤔

ft.com/content/d68d96…

Image of the day... 🏆

Short 🧵 for 'nowcasting' nerds 🤓

The first estimate of #euro area #GDP in Q1 is out tomorrow (consensus +0.1% q/q). I've been playing around with a rule of thumb suggested by economists at the #ECB , based on the #PMI ...

ecb.europa.eu/press/economic…

FYI, German #inflation likely to have ticked up to 2.4% in April on the EU harmonised measure (unchanged at 2.2% on the national measure), but both 'core' and services inflation lower than in March, so still looking good for first #ECB rate cut in June.

destatis.de/EN/Press/2024/…

A less encouraging signal from the #EU ... 🤨

Economic sentiment edged lower in April and remains below its long-run average (tomorrow's #GDP data may show return to growth in Q1, but recovery looks set to remain feeble)

More here: economy-finance.ec.europa.eu/document/downl…

😃