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Eurosystem staff macroeconomic projections for the euro area

ECB, (2019), “Eurosystem staff macroeconomic projections for the euro area”, June

Although real GDP growth was stronger than expected in the first quarter of 2019, recent indicators point to weaker growth in the second quarter and a moderate increase during the remainder of 2019. Economic sentiment indicators have continued to worsen across euro area countries over recent months, notably in sectors exposed to global trade. This reflects the ongoing weakness in global trade in an environment of continued global uncertainties (such as threats of an escalation of protectionism and the possibility of a disorderly Brexit).

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