Latest data released by the National Statistics Institute - 27 April 2018

  • Prior q/q +0.7%
  • GDP +2.9% vs +3.0% expected y/y
  • Prior y/y +3.1%

A major miss on the GDP year-on-year reading. That's not going to bode too well for Eurozone optimists.

Okay, Bloomberg now reporting that the year-on-year was 2.9% not 1.9%. That's much better then. Was digging through to find what went wrong but I couldn't for the life of me figure it out.