Lorenzo Codogno
Lorenzo Codogno
economy forced issues problem require strong tackling
Italy's economy has become a real problem and tackling the issues head-on will require a strong government, not one that may be forced into compromises.
consumer cut drove increase less likely rate services spending
Services and probably consumer spending drove the increase in GDP. It makes a rate cut less likely for the moment.
confident consumer economic interest move needs order rates
In order to move interest rates higher, the ECB needs to be confident about the sustainability of the economic upswing, especially on the consumer side.
certainly growth high inflation slower somewhat worst
The combination of high inflation and somewhat slower growth is certainly the worst thing for the euro,
likely trend underlying
The underlying trend is encouraging and will likely continue.
economy euro european harder main quicker reason rebound sharp
The main reason for the euro rebound is the sharp slowdown in the U.S. economy, ... The European economy is slowing, but the deceleration is going to be much quicker and harder in the U.S.
bad becoming conditions few main message recovery
The main message here is that the recovery is becoming more fragmented. (But) we should not be misled by a few bad numbers. The conditions are in place for some recovery in the first part of this year.