It's got to be the most under-reported and unappreciated economic development in 2016: Europe's economic growth outpaced America's in the first quarter by a fairly healthy margin. Is this just a temporary blip or something more significant?
It wouldn't be wise to speculate about what the rest of the year might hold. Background factors that might help Europe are the decline in the euro over the past 18 months as well as continued pump-priming from the European Central Bank. Factors that work against Europe are the continued political dysfunction as well as resistance to structural changes.