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MNI BRIEF: EZ Recovery Set For Q2: Ifo, Kof, Istat

MNI (London)
LONDON (MNI)

The EZ economy is expected to decline by 0.4% in Q1 2021, before rising by 1.5% in the second quarter and by 2.2% in Q3, a joint research project published Monday by the Ifo Institute, KOF and Istat shows. However, the forecast is subject to high uncertainty and depends on the development of the pandemic. "We expect a recovery soon if the vaccination campaigns proceed swiftly", says KOF researcher Heiner Mikosch.

Inflation is also expected to pick up to 1.1% in Q1 and to 1.8% in the second quarter, after the 0.3% seen in 2020. The researchers expect consumer prices to rise by 2.1% in Q3 in the EZ, nominally above the ECB's target. Private consumer spending and investment is also projected to pick up in Q2.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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