AFP, Frankfurt :
The eurozone’s economic recovery is set to continue at a moderate pace in the coming months, driven by domestic demand, three of Europe’s leading economic institutes predicted Friday.
Germany’s Ifo think-tank and its French and Italian counterparts Insee and Istat said in a joint statement they are pencilling in a minimal acceleration in quarterly growth to 0.3 percent in each of the second, third and fourth quarters from 0.2 percent in the first quarter.
That will take full-year growth up to a modest 1.0 percent for 2014 as a whole, the institutes said.
“Eurozone growth is expected to recover in the second quarter with GDP (gross domestic product) increasing by 0.3 percent after 0.2 percent in the previous quarter,” the statement said.
“Growth rates are forecast to remain at this level in the third and fourth quarters.” The recovery was expected to be “broad-based across sectors and countries.
