Data out of Europe has gotten worse and worse as the year has gone on, but a pick-up in Chinese trade numbers and first quarter GDP appear to have steadied the eurozone as well.

The big picture: Consumer prices in the euro area rose 1.7% last month, the strongest since November, Bloomberg reports, with core inflation, rising to 1.2%. Both readings beat economists estimates, and put an exclamation point on the economic bloc's stronger-than-expected 0.4% increase in GDP during the first quarter. It was twice the pace of Q4's growth and also beat economists' expectations.

  • Bundesbank president Jens Weidmann said in a speech ahead of Friday's consumer price numbers that "much suggests that the economy is only experiencing a temporary weak phase and will pick up speed again after its soft patch."

Go deeper: Germany is Europe's most economically dangerous country

Go deeper

Updated 44 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 31,092,895 — Total deaths: 961,301— Total recoveries: 21,274,210Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 6,812,470 — Total deaths: 199,517 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Health: CDC updates guidances to say coronavirus can be spread through the air Nursing homes are evicting unwanted patients.
  4. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right."
  5. Education: College students give failing grade on return to campus.
  6. Business: Unemployment concerns are growing.
  7. World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.
Ben Geman, author of Generate
1 hour ago - Energy & Environment

The climate stakes of the Supreme Court fight

Illustration: Aïda Amer/Axios

Ruth Bader Ginsburg's death and the battle over her vacant Supreme Court seat have real implications for energy and climate policy.

Why it matters: If President Trump replaces her, the court will likely become more skeptical of regulations that claim expansive federal power to regulate carbon under existing law, and perhaps new climate statutes as well.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

The tech war between the U.S. and China escalates

Illustration: Aïda Amer/Axios

Economic tension between the U.S. and China continues to escalate but is shifting in focus — away from the tit-for-tat trade war and toward a more direct confrontation over the future of technology at the heart of the conflict between the world's two largest economies.

Why it matters: The battle between the U.S. and China was always about tech supremacy and the direct confrontation could result in an accelerated splintering of global supply chains and a significant reduction of international commerce.