There might be cause for celebration in the euro zone next week, with analysts expecting official figures to show its economy grew for the first time since 2011 in the second quarter.
Economists surveyed by CNBC on average forecast an expansion of 0.2 percent in the region's quarterly gross domestic product (GDP). The official data, which will be released on Wednesday, comes after the pace of contraction slowed in the first quarter, to 0.2 percent quarter-on-quarter, boosting hopes of a return to growth. The last quarter-on-quarter expansion in euro zone GDP was in the third quarter of 2011.
Jonathan Loynes, chief European economist at Capital Economics, said he had penciled in quarterly growth of 0.2 percent in the second quarter, driven by a strengthening industrial sector.
"It's where we've seen clear evidence of an improvement," he said. "Industrial production figures have picked up quite strongly and could add around 0.2 percent to GDP in the second quarter."
Nomura's senior European economist, Silvio Peruzzo, agreed that a revival in the manufacturing and industrial sectors was paving the way for a euro zone recovery.
"There is some good news in store for the euro zone next week," he told CNBC, forecasting quarterly growth of 0.2 percent. "It's a very challenging, but on balance there are some indications the recovery may be happening ahead of our expectations."
Euro zone GDP would also get a helping hand from an improvement in the core euro zone economies, Loynes added, with Germany in particular expected to post "solid growth".