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Euro zone consumption resilient, labor market strong: ECB

Published 11/08/2018, 04:21 AM
Updated 11/08/2018, 04:30 AM
© Reuters. FILE PHOTO: ECB HQ and skyline with its financial district are seen in Frankfurt

© Reuters. FILE PHOTO: ECB HQ and skyline with its financial district are seen in Frankfurt

FRANKFURT (Reuters) - Consumption in the euro zone appears to be resilient to a recent slowdown and the labor market is also expected to continue expanding, suggesting that growth remains broad-based, the European Central Bank said in a regular economic bulletin.

"Short-term indicators point to continued strength in the labor market in the coming quarters," the ECB said in its assessment, which is broadly consistent with its statement after its October policy meeting. "Private consumption is expected to display resilient growth in the coming quarters."

© Reuters. FILE PHOTO: ECB HQ and skyline with its financial district are seen in Frankfurt

At its last meeting on Oct 25, the ECB reaffirmed its plans to wind down bond purchases, also known as quantitative easing, by the close of the year and to keep rates at a record low at least through next summer.

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