JP Morgan boost Q2 GDP forecast for Euro area to 2% (from 1.5%) | Forexlive

JP Morgan are encouraged by PMI data from both sides of the Atlantic.

Following April PMIs in the euro area JPM have raised their second quarter (April – June) GDP forecast to 2%, from 1.5% previously.

JPM also on the US PMI’s:

• The April flash PMI showed unexpected and broad-based improvement
• suggesting further positive momentum in the US economy … (and) a more sustained pace of expansion
• tighter monetary and credit conditions do not appear to be significantly slowing activity at this time