https://sputnikglobe.com/20230605/economic-growth-nearly-stalled-in-euro-area-in-early-2023---ecb-president-1110930770.html

Economic Growth 'Nearly Stalled' in Euro Area in Early 2023 - ECB President

Economic Growth 'Nearly Stalled' in Euro Area in Early 2023 - ECB President

Sputnik International

Economic growth in the euro area almost stalled in early 2023, with domestic demand remaining weak at the moment, European Central Bank (ECB) chief Christine Lagarde said on Monday.

2023-06-05T17:14+0000

2023-06-05T17:14+0000

2023-06-05T17:14+0000

economy

christine lagarde

russia

ukraine

the european central bank (ecb)

eurozone

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"Growth in the euro area nearly stalled in early 2023 and domestic demand remains weak. Activity is being supported by lower energy prices, easing supply bottlenecks and fiscal policy support to firms and households ... Domestic demand, especially consumption, remains weak. Business and consumer confidence indicators point to weak activity in the 2nd quarter and remain lower [than before the start of Russia's military operation in Ukraine in February 2022]," Lagarde said during a session of the committee on economic and monetary affairs of the European Parliament. The ECB head also called on EU countries to roll back support measures to boost demand and avoid higher inflationary pressures in the medium term. At the same time, headline inflation declined from its October peak and stood at 6.1% in May, Lagarde stated, adding that the ECB is determined to "timely" achieve a target of 2%. In March, the ECB set the inflation target of 5.3% in 2023, 2.9% in 2024 and 2.1% in 2025.

https://sputnikglobe.com/20230224/euro-zone-core-inflation-at-new-record-high-as-ecb-gears-up-to-hike-interest-rates--1107761696.html

russia

ukraine

2023

News

en_EN

eurozone, european union, eurozone economic growth stalled, european central bank (ecb), christine lagarde