Euro Zone Economy Recovers Slowly, Unevenly – Trichet
“Available economic data and indicators derived from surveys suggest an acceleration of economic activity in the second quarter of this year and third quarter data are better than the estimate. Looking forward, we expect the eurozone to continue developing at a moderate and uneven pace, in a climate of uncertainty,” Trichet said.
The ECB official attended a press conference after the bank maintained the main lending rate at a record low of 1% 15th consecutive month.
The Euro area economy has advanced by only 0.2% in the first quarter of the year. Data for the second quarter will be presented next week, and analysts expect the economy to show some strong advances.11