Eurozone Shows Tentative Signs Of Stabilization: ECB

Eurozone Shows Tentative Signs Of Stabilization: ECB



There was tentative signs of a stabilization in economic activity at a low level around the turn of the year, but the economic outlook remains subject to high uncertainty and downside risks, the European Central Bank said in its monthly bulletin on Thursday.
The underlying pace of monetary expansion remains subdued. The economic outlook is subject to downside risks, the ECB said. Looking ahead, the euro area economy is expected to recover very gradually in the course of 2012.
According to Survey Of Professional Forecasters (SPF), inflation expectations ticked up by 0.1 percentage point to 1.9 percent for 2012 and decreased marginally by 0.1 percentage point to 1.7 percent for 2013.
The economy is forecast to shrink 0.1 percent in 2012 compared to the prior growth forecast of 0.8 percent. Further, growth estimate for 2013 was lowered to 1.1 from 1.6 percent.


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