ECB Raises Growth Forecast

The European Central Bank lifted its growth prediction for the eurozone region to between 1.4 and 1.8 percent for this year, and for between 0.5 and 2.3 percent for next year.

ECB President Jean-Claude Trichet said the eurozone recovery has been supported by global growth and reflected “temporary domestic factors”.

He added, however, that “uncertainty still prevails”.

“One the one hand, global trade may continue to perform more strongly than expected, thereby supporting euro area exports,” he said. “On the other hand, concerns remain relating to the emergence of renewed tensions in financial markets and to some uncertainty about growth prospects in other advanced economies.”

Source: BBC News

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