Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 04 04T080636Z 1 LYNXMPEJ3308G RTROPTP 4 SPAIN ECONOMY INFLATION - Business Express

Euro zone consumers more optimistic on inflation, ECB survey shows

FRANKFURT (Reuters) – Euro zone consumers cut their inflation expectations in February and also took a more optimistic view on growth and unemployment, a fresh survey by the European Central Bank showed on Tuesday.

Euro zone inflation has started to edge down from record highs around the turn of the year and further big falls are likely over the coming months, even if concerns are rising that price growth could still get stuck above the ECB’s 2% target further out.

Over the next 12 months, inflation expectations fell to 4.6% from 4.9% while three years out, they eased to 2.4% from 2.5%, the ECB said, based on a monthly survey of 14,000 adults in six of the euro zone’s biggest countries.

With inflation still far too high, the ECB has raised rates by a combined 350 basis points since last July and the bank’s chief economist has already signalled several more increases before rates peak.

Although consumers still expect an economic contraction even if hard indicators suggest the bloc avoided a recession, they have become slightly more upbeat on the outlook.

Growth expectations over the next 12 months rose to -0.9% from -1.2% a month earlier while expectations for the unemployment rate 12 months ahead declined to 11.5% from 11.6%.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

On income growth, consumers became more pessimistic, however, and saw their nominal income rising by 1.2% in the year ahead, down from 1.3% in January.

Actual nominal income growth is running in the 5% to 6% range and some policymakers are worried that this is out of sync with a 2% inflation target, even if consumers are still just catching up after two years to ultra-fast inflation.


(Reporting by Balazs Koranyi; Editing by Gareth Jones)


Recent Post: