By Mark Armstrong with Reuters
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The economy in the euro area grew by 2.7 percent, more than the World Bank had expected. The ECB's stimulus measures are likely to continue leading to more growth in 2018
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The World Bank says the economy in the euro area grew faster than it expected in 2017 and that the momentum is likely to continue this year.
Growth reached an estimated 2.7 percent, that's 0.7 percent more than it had forecast.
The European Central Bank's stimulus measures are credited with having led to growth in both imports and domestic demand.
Because inflation remains below target those measures are likely to go on for the time being with continuing low interest rates.
Good news on the jobs front too as unemployment in 2017 fell to its lowest level since 2009 with some countries reporting labour shortages. Wages however, remained subdued and with inflation still low they're unlikely to pick up much in 2018.
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