Bloomberg Surveillance · Thursday, August 27, 2026
Ethan Devitt of Moneta Group highlights the resilience of European growth, noting positive momentum despite headwinds, particularly in Germany. He sees AI sovereignty as a key theme, with European governments prioritizing local AI sourcing, potentially driving a second wave of AI growth focused on Europe.
“European growth has been positive, despite many of the headwinds coming its way and much of the negative momentum. So it has been marginally positive, not the same as the U.S.”
“We've also seen Germany having had strong growth, a bit of a surprise there. Strong startup activity in Germany. Yes, its industrial base is under threat. But there always are green shoots. We've seen this in the UK, too, some important initiatives around technology there.”
“And equally, the focus on AI sovereignty, whereby European governments really want to know that they can source their AI locally, that will not be dependent on geopolitical frictions, are subject to a sudden change.”