EU Phew

If we take our attention away from all of the hullabaloo surrounding Brexit and the political boxing taking place with our European friends we are to divorce, there is a good news story beneath the surface. Don’t expect too much publicity regarding it though……it’s a good news story after all!

 

After many false dawns, there appears some sunlight on Europe's strongest economies with economic growth across the European Union at levels not seen since 2007. And the continent's powerhouse countries - Germany and France - are seeing growth at levels not experienced since 2010.

 

And that’s not all……the Eurozone Economic Surprise Index (what a name by the way) which is a measure of whether economic data is better or worse than forecast, is comfortably above 60 (where above 50 is considered positive). Figures like these have not been seen since the beginning of 2014.

 

That’s great, but what’s in it for ‘us’?

 

Well, better EU growth is good news as nearly half of all we export goes to the EU. If the EU is growing, they will want more of it. As we are still in the single market and the customs union, this gives us tariff free access to the EU (for now).

 

Although that relationship will change (with this thing called Brexit) the UK is still the major beneficiary as the EU marches forward economically speaking.

 

So……good news. You would be forgiven for thinking it was fake news though as it is a positive story after all.