The Eurozone recovery continues at a modest pace, driven largely by trade with the more dynamic emerging market economies, which is expected to be boosted by the substantial recent decline of the euro's exchange rate, according to the European Central Bank's quarterly forecast survey published Thursday. In addition, a weaker euro should allow the EMU economies to export more to the dynamic emerging markets.
The ECB forecasters' survey showed that unemployment expectations were revised down 0.2 percentage point for 2010 and 2011 to 10.3%. The long-term forecast for 2014 shows unemployment easing to 8.5%, down slightly from the previous forecast of 8.6%.
ECB Forecasters Survey: EMU Recovery Continuing But Modest | iMarketNews.com
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