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Economic recovery in eurozone to accelerate slightly: think tanks

Xinhua, July 7, 2015 Adjust font size:

The economic recovery in the eurozone will gain impetus slightly over the course of the year, three think-tanks said on Tuesday in a joint forecast report.

Economic output is expected to grow by 0.5 percent in the third and fourth quarters respectively, following an increase of 0.4 percent in the first and second quarters, according to the latest forecast by Munich-based Ifo institute, the French Insee institute, and Italy's Istat institute.

"The development will mainly be driven by domestic demand," said the report, adding that will lead to an economic growth rate of 1.4 percent in 2015, after 0.9 percent in 2014.

In addition, inflation is expected to accelerate to the tune of 0.2 percent in the second quarter of 2015 and to reach 0.9 percent by the end of the year, based on the assumption that negotiations between the Greek government and its debtors do not comprise the financial stability of the euro countries, the forecast report noted. Endit