ECB: without reforms recovery at risk, ready for new measures if … – Il Sole 24 Ore

ECB: without reforms recovery at risk, ready for new measures if … – Il Sole 24 Ore

History article

Close

This article was published on 14 August 2014 at 10:33.
The last change is the 14 August 2014 at 12:35.

insufficient structural reforms in the eurozone countries constitute ‘another downside risks “to the outlook economic. This was the warning from the European Central Bank in its monthly bulletin, citing the risks of even a “domestic demand lower than expected.” The latest economic data, including survey information available for July, “remain consistent with the expectation of the Governing Council about the continuation of a moderate and uneven recovery in the euro area economy,” but the risks for economic outlook, say dall’Eurotower, “remain tilted to the downside.” In particular, “the greatest geopolitical risks as well as trends in emerging countries and in global financial markets could be in a position to adversely affect economic conditions, including through effects on energy prices and global demand for goods and services coming from the euro. “

The forecasts of GDP
forecast the ECB have marginally reduced the growth estimate for the Eurozone this year, bringing it to 1.1% ‘ 1% were unchanged while the estimates for 2015 and 2016, respectively, 1.5% and 1.7%. You read it in the “Survey of Professional Forecasters” for the third quarter of 2014, contained in the Monthly Bulletin of the ECB, and conducted between 17 and 24 July of this year based on the responses of 59 forecasters. The revision, the document reads, is due to the dynamic weaker than expected in the second quarter, primarily due to an increase in exports and private consumption lower than expected. The expectations of forecasters’ imply a gradual strengthening of economic activity in the coming years. ”

Unemployment always high
Unemployment in the euro area “remains high and, overall, the spare capacity remains considerable , “he writes in the ECB Monthly Bulletin. The latest figures for the unemployment rate in the euro area, he adds, “suggest a slight improvement in the labor market, however, there are still marked differences between countries and age groups,” and “although the survey results are improving, these remain consistent with only modest progress in the near future. ” In June, the unemployment rate fell slightly to 11.5% in the eurozone, the ECB recalls, after being stabilized at 11.6% in April and May. This improvement also reflects the continuing decline albeit moderate the number of unemployed since the last quarter of 2013 in the second quarter of this year, the unemployment rate stood at 11.6% against 11.7% of the first quarter and 11.9% in the last quarter of 2013 Recent developments “clearly indicate that the unemployment rate has peaked and that labor markets have started to improve.” The latest survey, however, the ECB concludes, “in any case exceed 4.3 percentage points since March 2008, when unemployment to cyclical trough before the start of the financial crisis.”

© ALL RIGHTS RESERVED

Permalink

“+” “+”

“+ last +” | “datalunga + +” “+ time +” | real-time

“);} else {$ (‘.finanza-right-.GraficiAndamento art’). append (” “+” “+”

“+ last +” | “datalunga + +” “+ time +”

“);} $ (‘.finanza-right-.TabellaDati art’). append (”

”
 + “” + name + “

”
 + “” + last + “

”
 + “” + sign + change + “

”
 + “” + time + “

”
 + ““); }}); $ (‘.finanza-Right-.TabellaDati art’). Trigger (‘dataloaded’); }, DataType: “json”, error: function (XHR, status, error) {console.log (status + “” + error); }});