Eurozone sees sign of ending economic downturn:Estonian Central Bank Chief


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Eurozone sees sign of ending economic downturn:Estonian Central Bank Chief

The Chief of Estonian Central Bank, Ardo Hansson said that the latest week had revealed the first signs of easing an economic slump over the eurozone, a Bloomberg interview published on Friday, the 10th of May 2019, had revealed.

Apart from that, over the Bloomberg interview broadcasted on Friday (May 10th), the Chief of Estonian Central Bank had also added that there had been indication last week that a prolonged period of economic weakness on the eurozone had been decaying.

Addressing an out-and-out optimism over last week’s eurozone data that pointed out a pivotal growth of bloc’s gross domestic product growth, the EU Commission’s Governing Council member, Hansson said, “This could be the beginning of something better”.

According to EU official data released last week on Brussels, Gross Domestic Product of the Eurozone had surged surprisingly by 0.4 percent during the first quarter of 2019, insanely beating analysts’ forecast of 0.3 percent, given the extent of garrulous event witnessed over the first quarter including possibilities of a chaotic Brexit and a recessed Italian economy.

Apart from that, bloc’s inflation data had also pointed towards the ECB’s target of just under 2.0 percent, which would certainly become a talking point over the next interest rate meeting scheduled to be held in June.