Left Menu
Development News Edition

European Central Bank officials say economy remains weak

European Central Bank officials say economy remains weak

Frankfurt, Jan 16 (AP) Top officials at the European Central Bank say economic growth remains weak though they see a few upbeat signs after the US and China moved toward lowering trade tensions. Recent data point to “a stabilization in euro area growth,” according to an account of the December 12 policy meeting released on Thursday.

It was the first policy meeting under new ECB head Christine Lagarde, who succeeded Mario Draghi on November 1. But members of the 25-person governing council still see “continued weak euro area growth dynamics.”

The big concerns remain developments outside the 19 countries that use the euro. The eurozone depends heavily on trade and manufacturers in the region have been hard hit by uncertainty over the outcome of U.S.-China trade negotiations. The possibility of new tariffs, or import taxes, has cast a shadow over investment plans and the fate of the intertwined supply chains in the global economy.

The US and China signed a deal resolving some issues on Wednesday but global tensions over trade remain largely unresolved. The ECB foresees modest growth of 1.1 per cent for the eurozone this year. Service companies and construction activities have helped support growth while manufacturing of goods such as autos and industrial machinery remains in a recession. (AP) ZH


(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



WEF2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

SDG13: How you can reduce global warming by changing your food habits

The mega narratives of various international organizations give the impression that fighting global warming is only a job of government agencies. However, the European Investment Bank EIB has designed a questionnaire which besides making th...


Latest News

Pacers looking for faster start against Suns

Coming off their most lopsided loss of the season, the Indiana Pacers hope for a better start in Wednesday nights road game against the Phoenix Suns. The Pacers were upended 118-88 on Monday at Utah against a Jazz team that has been tough a...

Libya's NOC says oil operations can only be resumed by ending closures -Tweet

Libyas state-run National Oil Corporation NOC welcomed on Tuesday calls by the U.S. Embassy in Libya for resumption of oil operations, NOC said in a Tweet.However, NOC added that Operations can only resume when illegal blockades are lifted....

UPDATE 1-DAVOS-The Greta and Trump show - Davos highlights on Tuesday

The annual meeting of the World Economic Forum WEF kicked off on Tuesday in the ski town of Davos.Here are the highlights from Day 1 THUNBERG V TRUMP A TRILLION TREES IS NOT ENOUGHGreta Thunberg and U.S. President Donald Trump dominated as ...

U.S. Secretary of State says no evidence Venezuela's Maduro interested in free, fair elections

U.S. Secretary of State Mike Pompeo said on Tuesday there have been many conversations with Venezuelan President Nicolas Maduro in recent months, but there are no indications Maduro is interested in holding free and fair elections....

Give Feedback