Germany helped the euro area avoid its second recession in three years as growth in the region’s largest economy offset contractions in peripheral countries.
Gross domestic product in the 17-nation euro region stagnated in the latest quarter compared with the prior three months, the European Union’s statistics office in Luxembourg said today. The median forecast of economists surveyed by Bloomberg was for a 0.2 percent contraction. The German economy expanded 0.5 percent, compared with the 0.1 percent median estimate by economists in a separate survey.
Continental AG Chief Financial Officer Wolfgang Schaefer said on May 3 that Europe’s second-largest auto-parts maker may raise its sales forecast next quarter. Earnings at Volkswagen AG, Bayerische Motoren Werke AG and Daimler AG exceeded expectations.
In the U.S., retail sales probably slowed in April, an economist survey indicated. The U.S. consumer-price index was little changed in April compared with March after climbing 0.3 percent the prior month, according to the survey median before a Labor Department report.