Economics
Euro-Area Economic Confidence Falls, Complicating ECB's Mission
- Headwinds may hinder Draghi’s plans to pare back ECB stimulus
- Powell at the Fed signals dovish tone on projected 2019 hikes
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Euro-area economic confidence slipped for an 11th straight month, further damping expectations that the currency bloc will rebound from a sharp growth slowdown and complicating the European Central Bank’s plans to pare back stimulus.
The European Commission’s economic sentiment index declined slightly, bringing it to its lowest level since May 2017. While the drop was less than expected by economists, and industry confidence showed improvement, the index was weighed down by weaker sentiment in Italy and a marked decrease in consumer optimism for the whole euro area.