Confidence high in the Eurozone as Germany lifts growth forecast
THE EUROZONE economic outlook is becoming rosier, with confidence levels remaining high and Germany – the largest economy in the currency bloc – raising its growth expectations.
German officials have raised their growth forecasts to 1.8 per cent this year, up from a 1.5 per cent forecast in January.
The brighter outlook comes from the country’s low level of unemployment, which is expected to boost consumption.
Economy Minister Sigmar Gabriel said exporters and Germany’s Mittlestant – small and medium sized enterprises – would benefit from cheap oil and a weaker euro.
Eurozone consumer confidence eased back in April, after climbing to a 13-year high, according to figures released yesterday by the European Commission.
The consumer confidence index edged down to a score of minus 4.6 in April from minus 3.7 in March. Confidence levels – as measured by the index – remain well above its long-term average of minus 13.1.