Recent Weakness May Give the ECB Pause to Raise Rates For Now

              EU economic news started turning more bullish at the end of 2016.  Markit Economic’s PMI surveys frist reflected the more posirive tone, which continued improving through 2017.  Industrial production growth – which stalled in 2016 – followed the PMIs higher in 2017.  A strengthening employment picture led to increased retail sales growth.  And The ECB’s ultra-low interest rate policy and asset purchase program kept rates low, leading to increase loan growth to businesses and consumer.