Eurozone economy absorbs Brexit shock, but Trump clouds outlook
Berlin — The eurozone economy grew steadily in the three months after Britain’s shock vote in June to leave the European Union but US President-elect Donald Trump’s protectionist rhetoric is clouding the outlook for 2017. Uncertainty about the trade policy Trump will pursue once he takes office is weighing on eurozone sentiment, increasing the likelihood that the European Central Bank will retain its loose monetary policy to support growth in the 19-country bloc. Gross domestic product (GDP) in the eurozone expanded 0.3% in the third quarter, on par with the April-June period, the EU’s statistics office said on Tuesday, confirming an earlier estimate. The data showed "the pace of growth in spring could be maintained despite the Brexit vote in June," NordLB analyst Christian Lips said. "That was far from self-evident." But "we now have the election of Donald Trump as the new US president, whose policy is less predictable and whose political inexperience and impulsiveness are likely t...
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