The growth outlook is mixed

Confidence is returning to the euro area, which is now experiencing a long-overdue cyclical recovery, but the longer-term economic growth outlook remains tepid and points to a slowdown in some of Europe’s major economic partners.

The subdued outlook for growth in some key trading partners means that internal demand will be important to sustain the recovery in Europe. It could also render the political challenge of maintaining open markets and a global level playing field even harder.

Source: IMF