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MNI BRIEF: Energy, Inflation Drag On 2023 EZ Consumption - ECB

(MNI) LONDON
(MNI) London

High energy prices, uncertainty and declining real disposable income will continue to dampen consumer spending in 2023, according to the latest pre-release from the European Central Bank's January Economic Bulletin.

Durable goods are likely to be particularly affected, despite reduced supply bottlenecks. Services consumption is also likely to weaken as reopening effects gradually fade.

“Overall, this points to significantly weaker consumption dynamics in the near term in line with the December 2022 Eurosystem staff macroeconomic projections for the euro area,” the bulletin notes. (ECB WATCH: Rates Reprice As Lagarde Promises More 50BP Hikes)

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Central Bank NewsPolicy NewsHomepageEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefStoryRegion
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Central Bank NewsPolicy NewsHomepageEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefStoryRegion
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