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Financial News: ECB Bulletin: Growth Momentum Unabated In H2

ECB Bulletin: Growth Momentum Unabated In H2

11/09/2017 - 07:12:00 (RTTNews)

(RTTNews) - Eurozone's robust economic recovery continued in the second half of this year, supported by domestic demand and an upswing in investment, the European Central Bank said in its latest economic bulletin, released on Thursday.

"The solid and broad-based economic expansion in the euro area is continuing; the latest data and survey results point to unabated growth momentum in the second half of this year," the bank said in the bulletin.

"Risks surrounding the euro area growth outlook remain broadly balanced," the ECB added.

Past labor market reforms have led to rising employment that coupled with increasing household wealth, is supporting private consumption, the report said.

Very favorable financing conditions and improvements in corporate profitability continue to benefit the upswing in business investment, the bulletin said. Construction investment has also strengthened, it added.

The ECB said the strong cyclical momentum could lead to further positive growth surprises. That said, downside risks continue to relate primarily to global factors and developments in foreign exchange markets, the bank added.

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