ECB upbeat on growth prospects

Economic data points to solid growth in the eurozone in the second quarter of the year and indicates a rebound in global growth after a rough patch, the European Central Bank (ECB) said in a regular economic bulletin published yesterday.

Inflation will hover near the current level in the coming months and while there is still no convincing upswing in consumer prices, there are early signs of pipeline price pressures in the production and pricing chain, the ECB added.

“Overall, incoming data point to solid growth in the second quarter of 2017,” the ECB said in a bulletin that is largely consistent with the outlook presented after its June policy meeting earlier this month.