ECB: Lagarde says the economy was resilient in the second quarter; the trend is likely to continue into the third
(Il Sole 24 Ore Radiocor) - The eurozone economy proved resilient in the second quarter, and this trend is likely to have continued into the third quarter. “The economy proved resilient in the second quarter, despite the difficulties caused by the energy shock,” said Lagarde. “Growth was widespread across countries and sectors” and “this trend has probably continued into the third quarter,” she added.
“The manufacturing sector continues to perform strongly, whilst governments are increasing spending on defence and infrastructure.” Consumer confidence, too, “has rebounded from its previous lows”, contributing to the recovery in the services sector following the initial impact of the energy crisis. “The rise in AI-related activities is evident in digital services, business investment and exports,” Lagarde concluded.
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