Eurozone economic recovery surges in April as services rebound
17 hours ago A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company’s plant in Winsen, Germany. File/Reuters
The eurozone’s recovery from its pandemic-induced economic downturn was much stronger than expected in April as the service industry adapted to lockdowns and made a surprise return to growth, a survey showed.
With the continent facing a fresh wave of coronavirus infections governments have reimposed strict curbs to contain the spread, forcing some businesses to close and encouraging citizens to stay home.
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ECB head: Europe on crutches, still needs robust stimulus
David Mchugh
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FILE - In this Monday, FEB. 8, 2021 file photo, European Central Bank President Christine Lagarde addresses European lawmakers during a plenary session at the European Parliament in Brussels. The European Central Bank is expected to signal Thursday, April 22, 2021 that even if inflation rises later this year, it won t consider cutting back support for Europe s economy, which is lagging the U.S. and China amid a drawn-out struggle with the COVID-19 pandemic. (AP Photo/Olivier Matthys, Pool, File) (Copyright 2021 The Associated Press. All rights reserved)
FRANKFURT – European Central Bank head Christine Lagarde said the economy is still “on crutches” and in need of support from both the central bank and government spending as the 19 countries that use the euro limp through extended lockdowns in a third wave of the COVID-19 pandemic.
With Europe s economy lagging, ECB to keep stimulus running
by David McHugh, The Associated Press
Posted Apr 22, 2021 6:13 am EDT
Last Updated Apr 22, 2021 at 6:14 am EDT
FRANKFURT The European Central Bank is expected to signal Thursday that even if inflation rises later this year it won’t consider cutting back support for Europe’s economy, which is lagging the U.S. and China amid a drawn-out struggle with the COVID-19 pandemic.
Extended lockdowns amid a resurgence of the virus, coupled with slow vaccination rollouts, have pushed back hopes for what should eventually be a robust rebound.
The central bank for the 19 European Union countries that use the euro still has almost 900 billion euros left in its pandemic bond purchase program, set to run through March 2022. So analysts don’t expect an announcement of more support when the bank’s 25-member governing council holds its regular policy meeting.
EUR/USD Current Price: 1.2031 Currencies followed equities amid the lack of macroeconomic news.
The ECB will announce its latest monetary policy decision on .