Off The Wire
Euro area growth remains weak: ECB's Lagarde
FRANKFURT (Reuters) - Economic growth in the euro zone is weak but consumption has remained resilient and the European Central Bank’s easy policy continues to lend support, new ECB President Christine Lagarde said on Monday.
“Euro area growth remains weak,” Lagarde told the European Parliament in her first hearing since taking the ECB’s helm a month ago.
“Yet, consumption has held up fairly well: labor market conditions have continued to improve, encouraging consumers to remain confident and to continue to spend.”
Reporting By Francesco Canepa and Balazs Koranyi