Marginal economic impact from the heatwave
The summer heatwave is a negative supply shock for the euro area economy, but the size of the shock is small. We expect euro area Q3 GDP growth to be reduced by 0.1pp, mainly due to weaker German growth linked to low Rhine River water levels. We expect only a marginal impact on prices.
The summer heatwave is a negative supply shock for the euro area economy, but the size of the shock is small. We expect euro area Q3 GDP growth to be reduced by 0.1pp, mainly due to weaker German growth linked to low Rhine River water levels. We expect only a marginal impact on prices.
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