Ifo: Eurozone recovery picks up

Eurozone real economic activity has expanded by 0.4%in the first quarter of 2015 and is set to grow at a similar rate throughout the year, according to German ifo institute.

Driven a growth in domestic demand, annual GDP is set to increase by 1.4% in 2015, compared to 0,9% the previous year.

On the assumption that the oil price will stabilise at $65 per barrel and that the euro / US dollar exchange rate will stabilise at +0.9%, the ifo institute forecasts that inflation will pick up at 0.9% by the end of the year.

At the same time, the info institute also forecasts a continuing divergence between individual eurozone member states, with domestic consumption set to grow in Spain and Germany whereas the ifo institute anticipates a more challenging outlook for France and Italy.

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