Marco Buti, head of the European Commission’s economics department, noted in a report today that a weaker euro could increase exports from the region. The euro has declined 14 percent against the dollar this year, closing yesterday at $1.2296.
“The euro-area recovery remains on track although the renewed market turbulence seen over the past two months shows that uncertainty and downside risks remain high,†Marco Buti noted. “Near-term growth prospects remain rather subdued, with the recovery gaining traction only towards the end of this year and into next,†he added.
Source: Bloomberg
See also: European Industrial Orders Rise for Third Month, Boosted by Weakening Euro
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