the euro zone trade surplus. a better net trade result in the first quarter came mainly from higher exports of machinery, vehicles and chemicals and a drop in imports of energy. imports from russia, once a key supplier of oil and gas to the eu, were 72.1% lower in the january march period than a year earlier as the eu stopped buying most of its energy from moscow following the russian invasion of ukraine in late february 2022. joining me is sylvain broyer, chief economist emea, s&p global ratings. what to be make of these numbers? a pretty anaemic growth figure. there are a few positives, pretty anaemic growth figure. there are a few positives, the pretty anaemic growth figure. ii” are a few positives, the european economy has avoided recession, there is an upsurge in demand partly related to the opening of china and the european industry and job creation are strong. the outlook for the second quarter and third quarter is still 0k, the second quarter and third quarter i
Numbers while the Major Economies are raising rates and chinas growing below its growth targets. Paul, what are some of the complex sort of Pressure Points that these countries will have to navigate as they forge ahead . Yeah, well, i really think its a Confidence Game at this point, right . So we want consumers to continue to spend. We want firms to continue to invest. So i think having some confidence that the the rate cycle globally is near its peak, the us continues to put up good numbers. Chinas been tweaking some of the measures over the past week in the property market. So its certainly not a disastrous story, but its probably going to come in with a Forehand Build this year on growth and countries are just going to have to figure out how to navigate that given their particular circumstances. So its not a terrible scenario, but its a little bit weaker than were used to in this part of the world where china was powering the region and everyone else was kind of pulled along behind
But enrique tarrio, although he was the last of the proud boys to be sentenced for his role in the violent events of january six, 2021, he was the leader of that group, and thejudge had made it clear that even though he wasnt in washington on the day, that fateful day, he did orchestrate, organise and take credit for what happened. Many viewers will remember, of course, the violent scenes when people died. Many people were injured during the attempts by the proud boys and other right wing groups who supported donald trump to stop the peaceful and constitutional handover of power from one elected president to another. Of course, President Joe Biden won that election of 2020, even though that was denied and they still denied by many supporters of donald trump. Tarrio was in the courtroom, sat in a head to toe in an orange prison, prison issued jumpsuit. As he listened to his lawyers try to plea for some leniency. He stood up himself. He showed a lot of remorse, even though, as the judge
the riot, after he had been arrested and stopped from coming to the city two days earlier, the prosecution said enrique tarrio organised, orchestrated and took credit for what happened that day. the 39 year old was dressed head to toe in a prison issue orange jumpsuit as he listened to his lawyers urged the judge for clemency. the state had asked for 33 years in jail clemency. the state had asked for 33 years injail but clemency. the state had asked for 33 years in jail but as tarrio himself took the stand, he sounded contrite, he apologised for his actions and said he was embarrassed by what he had done. he also said he now believed donald trump had lost the 2020 election. nonetheless, thejudge lost the 2020 election. nonetheless, the judge said lost the 2020 election. nonetheless, thejudge said he should be sentenced to 22 years in jail, should be sentenced to 22 years injail, and thus the most important and most senior member of the proud boys to take part in the riot of j
pressure points that these countries will have to navigate? i really think it s a confidence game at this point. we want consumers to continue to spend, we want firms to continue to invest. i think having some confidence that the rate cycle globally is near its peak, the us continues to put up good numbers, china has tweaked some of the measures in the property market. it s certainly not a disastrous story but it will probably in poorly on growth, and countries have to figure out how to navigate that given the particular circumstances. not a terrible scenario but a bit weaker than we are used to in this part of the world, where china was powering the region and everyone else was pulled along. how do you see the challenges in the property sector? it was one of the huge boosters in the chinese economy. the property sector in china is driving between a quarter and a third growth. we know the authorities are concerned about excess debt levels. they want the market mechanisms to w