Deutsche Bank have upgraded their outlook for Euro Area GDP for 2024 to 0.9% (from 0.4%)

Via Deutsche Bank’s extensive World Outlook, titled “Optimism with uncertainties ahead”.

This in brief from the humungous document.

• tone is optimistic across economies and asset markets
• we upgraded our US growth numbers considerably in January to the top end of Street forecasts for the next couple of years. Nearly 6 months on and our US forecasts remain similar
• we’ve upgraded Euro Area GDP for 2024 by half a percent to 0.9%
• the big uncertainty is the US election with plenty of risks to the growth, inflation, and Fed outlook from the results.
• China … upgraded 2024 growth to 5.2% in April which remains unchanged
• Japan growth should stay above trend for the next couple of years which helps us be more hawkish on the Bank of Japan than the market

This article was written by Eamonn Sheridan at www.forexlive.com.