Draghi Sees Signs of Stabilization in ‘Challenging’ Economy

European Central Bank President Mario Draghi said that while the economic outlook in the euro area is “challenging,” he still expects a recovery this year.

“There are a few signs of a possible stabilization,” Draghi said in a speech in Shanghai today, according to a text provided by the Frankfurt-based central bank. “Our baseline scenario continues to be one of a very gradual recovery starting in the latter part of this year.”