Societe Generale: Euro Area Growth Noise, Inflation Outlook

Societe Generale strategists view the negative first-quarter Gross Domestic Product (GDP) print for the Euro area as largely noise driven by Irish volatility. Excluding Ireland, growth stands at 0.3% quarter-on-quarter.

The strategists point to stronger PMIs and French industrial data as supporting a more resilient underlying picture. The inflation outlook remains a key focus for the region.