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S&P Global lifts euro zone growth, inflation forecasts By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The former headquarters of European Central Bank Frankfurt (Germany), April 9, 2019, is where the euro sign was taken. Photograph taken at a slow shutter speed and the camera moved. REUTERS/Kai Pfaffenbach/File Photo

LONDON (Reuters) – S&P Global (NYSE:) said on Thursday it has lifted both its euro area economic growth and inflation forecasts for this year, but expected to inflation to fall back below its 2% target next year.

S&P Global (NYSE:) said Europe’s economic recovery after lockdown restrictions were lifted March-April had been “surprisingly robust”, leading them to raise their growth forecasts to 5.1% from 4.4%.

In a note, S&P Global said it had also revised up its inflation forecast for this year to 2.2% from 1.8%.

“However, we continue to see inflation decelerating below the ECB’s target next year on the back of subdued wage development and falling growth momentum,” S&P said, referring to the European Central Bank’s 2% inflation target.

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