17 Feb 2022 , 03:42 PM
European Central Bank (ECB) noted today that Euro area economic growth weakened to 0.3%, quarter on quarter, in the final quarter of last year. Nevertheless, output reached its pre-pandemic level at the end of 2021. Economic activity and demand will likely remain muted in the early part of this year for several reasons. However, Looking beyond the near term, growth should rebound strongly in the euro area over the course of 2022, driven by robust domestic demand. As the labour market is improving further, with more people having jobs and fewer in job retention schemes, households should enjoy higher income and spend more.
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