Key Notes
The revelation of additional regional GDP and inflation statistics was being digested by investors as European stock markets crept higher on Friday in light holiday trading volumes.
The FTSE 100 in the United Kingdom increased 0.1%, the DAX index in Germany traded 0.1% up, and the CAC 40 in France traded mostly flat of 04:05 ET (09:05 GMT).
Economic data revealed this week has given the European markets some cause for confidence as the year is drawing to a close. They now believe that the region’s anticipated recession in 2023 may not be as severe as initially anticipated.
The European Central Bank will likely struggle to manage inflation in the region as factory gate costs from France, the 2nd-largest economy in the Eurozone, increased significantly in November by 1.2%, instead of the 0.2% decline anticipated.
Spanish GDP increased by 2.0% in the previous quarter after being revised higher, but the country’s economy only grew by 0.1% in the third quarter, less than the 0.2% projected.
The U.K. stock market will close early on Friday, the final business day before the Christmas break, so trading is likely to be modest.
