The European Central Bank’s Vice President, Luis de Guindos, has indicated that the euro-area economy is facing a period of stagnation due to significant and “brutal uncertainty” regarding global trade policies. According to Guindos, while the first quarter showed “good” growth, certain factors such as Ireland’s economic performance and export frontloading created distortions. He further noted that growth during the second and third quarters is expected to be “almost flat.”
— news from Bloomberg.com
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ECB’s Guindos Sees ‘Almost Flat’ Growth in April-September Period
The euro-area economy is stalling because of the enormous and “brutal uncertainty” surrounding global trade policy, according to European Central Bank Vice President Luis de Guindos .
Growth in first quarter “was good” but some elements like Ireland and export frontloading “distorted it,” he said on Monday, adding that second and third quarter growth “will be almost flat.”