Euro zone data confirm tepid recovery, ECB’s Knot says – ZAWYA

Euro zone data confirm tepid recovery, ECB’s Knot says – ZAWYA

Euro zone data confirm tepid recovery, ECB's Knot says Euro zone data confirm tepid recovery, ECB's Knot says | ZAWYA MENA Edition HomeEconomyGlobalArticleEuro zone data confirm tepid recovery, ECB's Knot says Under this baseline, the ECB expects GDP to shrink by 8.7% this year    An anti-Brexit protestor ties an EU flag to a lamp post outside the Houses of Parliament in London, Britain February 7, 2019.FRANKFURT- A string of positive economic indicators in the euro zone confirm that a recovery is on its way but the bloc may still need years to reach pre-crisis levels of activity, European Central Bank policymaker Klaas Knot said on Thursday."I would say that recent data solidified the confidence in our baseline scenario," Knot, the head of the Dutch central banks, said in an online forum. "Yet, even in that baseline scenario, economic activity will only approach the pre-Corona 2019 level by the end of our projection horizon, at the end of 2022."Under this baseline, the ECB expects GDP to shrink by 8.7% this year and to grow by 5.2% in 2021.(Reporting by Balazs Koranyi; Editing by Catherine Evans) (([email protected]; +49 69 7565 1244; Reuters Messaging: [email protected])) Most Read Stock Market DataDubai FM 2,086.51248,671,474(-0.60%