September 16, 2024 09:03 GMT
MNI BRIEF: Eurozone Consumption Not Recovering - De Guindos
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MNI (LONDON) - The eurozone is not seeing a recovery in consumption recovery, with weak growth a “fundamental” problem for the blocl European Central Bank Vice President Luis de Guindos said on Monday.
Despite good wages and labour market data, consumption of goods is not matching consumption of services due to “confidence factors,” De Guindos said in an event in Madrid.
There is great uncertainty regarding purchasing power over the mid-to-long term and families have no clear future perspectives, he said. (See MNI SOURCES: ECB Neutral Rate Debate Heats Up As Growth Weak)
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