The euro area is turning into more of a help than a hindrance for the world economy.
With data this week predicted to show the 17-nation bloc is growing again after an unprecedented six quarters of crisis-driven contraction, economists from Barclays Plc to JPMorgan Chase & Co. say such stabilization will restore the region as a prop, if not a powerhouse, for international demand and financial markets.
“We’re not expecting a boom in Europe, but there is a momentum shift, and you’re going to feel it in markets and the world economy,” said Joseph Lupton, a senior global economist at JPMorgan Chase in New York who also has worked at the Federal Reserve. “There’s a change in perception from when people didn’t see a way out of the crisis to now seeing growth.”
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