Mexican Media Brands
ECB Raises European Growth Forecasts
The European Central Bank has slightly increased its forecast for economic growth in the eurozone through 2019.
#economics
Share
The European Central Bank has slightly increased its forecast for economic growth in the eurozone through 2019. But it held interest rates steady and hinted that no further rate cuts are like anytime soon.
ECB has raised its expansion rates by 0.1 point each to 1.9% this year, 1.8% in 2018 and 1.7% in 2019. President Mario Draghi says risks to growth are now “broadly balanced” after describing them in April as “tilted to the downside.”
The bank now predicts an inflation rate of 1.5% this year, down from an earlier forecast of 1.7%. ECB's new inflation forecasts for 2018 and 2019 are 1.3% (down from 1.6%) and 1.6% (down from 1.7%), respectively.
Separately, the EU’s Eurostat data agency reported a seasonally adjusted first-quarter growth rate of 1.9% year on year compared with 0.3% for the U.S.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.