Eurozone Q1 GDP second estimate +0.1% vs +0.1% q/q prelim

Prior +0.3%; revised to +0.2% There was a negative revision to the Q4 estimate, and that's the only minor tweak to the preliminary report. Other than that, this just reaffirms that the euro area economy did post marginal growth in the first quarter of the year. After a more resilient showing to start the new year, things are taking a turn now as higher energy prices are dampening economic sentiment in March and April. And that is likely to persist further deeper into Q2 as higher oil and gas prices start to become more embedded into other parts of the economy. Of note, household sentiment is one that is likely to see the biggest knock. And in turn, that will weigh on consumption activity with overall business activity also likely to suffer amid higher costs. That especially in the manufacturing sector, which looked like it was going to turn the corner at the start of the year. But alas, not to be it seems. This article was written by Justin Low at investinglive.com.