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Pictet WM maintains Euro area GDP growth forecast for 2017, despite Q1 surprise

Pictet Wealth Management has maintained its European GDP growth forecast at 1.5% for 2017, following better-than-expected first quarter economic growth in the region. According to Eurostat’s preliminary flash estimate, Euro area real GDP expanded by 0.5% QoQ in the first quarter of 2017 (1.7% YoY), slightly ahead of market expectations (0.4% growth). “Based on high-frequency data and some country-specific releases,…

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