Via Macquarie:
The business cycle in the Eurozone
We forecast growth in the Eurozone to be 2.1% YoY this year, the highest since 2001. Lagging the US recovery by 3-4 years, we expect Eurozone growth to remain above trend. As with the US, as the rate of employment growth fades, so will consumption and overall growth, in our opinion. We forecast 1.8% YoY real GDP growth in 2018. Please see pages 2-4 for more.