The recovery in the euro area is expected to continue at a moderate and steady pace, but slower than envisaged in June due to a lower foreign demand outlook, European Central Bank President Mario Draghi told Economic and Monetary Affairs Committee members on Monday. On the positive side, he said that the euro area economy showed resilience to global and political uncertainty, notably following the UK referendum outcome.
Real GDP growth is now forecast at 1.7% for 2016 and 1.6% for 2017 and 2018. Inflation is forecast at 0.2% for 2016 and 1.2% for 2017, and might rise to 1.6% in 2018, Mr Draghi said. (...)
Real GDP growth is now forecast at 1.7% for 2016 and 1.6% for 2017 and 2018. Inflation is forecast at 0.2% for 2016 and 1.2% for 2017, and might rise to 1.6% in 2018, Mr Draghi said. (...)
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