U.S. Anchored On Domestic Demand, EU On Credit Revival: Lyxor

At the beginning of the year, the growth forecast in the Eurozone was increased due to expectations of positive outcomes from the $60 billion QE program in the region. The revised 1.5% consensus estimate of real growth in the European region now seems less achievable than it did at the start of the year. On the contrary, in the U.S. where forecast was scaled down from 3.5% to 2.2%, the potential for growth in the second half is much higher, provided domestic demand continues to increase and there is an uptick in construction activity. This was the opinion given in Lyxor’s latest Cross…