Euro Area GDP growth likely to re-accelerate further in mid-2015

Euro Area's economic activity has its large contribution from the investments, as they are supported by lagged impact from higher consumption, and cheaper bank lending that has more accessibility.

Growth in the private consumption remains strong and is helped by the progress in labor markets, but it is likely to weaken moving ahead, with the declining oil price shocks.

There should be a little fade in the export growth as the demand from the Chinese manufacturing sector is weaker and there is less tailwind from EUR, which will be under appreciation pressure in 2016.

"... we have revised our GDP growth forecast slightly higher to 1.5% in 2015, 1.8% in 2016 and 1.9% in 2017. We are 0.1pp above consensus in both 2016 and 2017", says Danske bank in a research note.