ECB’s De Guindos retains hope for a growth recovery By Reuters

FRANKFURT (Reuters) – Eurozone growth may be weaker in the short term than the European Central Bank now expects, but the recovery should accelerate later, ECB Vice President Luis de Guindos said on Wednesday.

“We expect the recovery to strengthen over time, as rising real incomes and the tapering effects of tight monetary policy should support consumption and investment,” de Guindos told a conference call.

He added that improving exports and a rebound in particularly weak productivity growth could also boost the economy.