ECB's Praet says that economic conditions are good despite 'clouds'
Comments by ECB chief economist Peter Praet in Brussels
- Slowdown in indicators reflect supply constraints
- There may be a more fundamental problem of confidence
- Globalisation can suppress wages
- Still a lot to be done on structural reforms
Praet pretty much mirroring the rest of the ECB members and European officials in trying to brush off the soft patch seen in the economy to start the year. But if anything, I'd bet they'd be a bit worried if Q2's growth is even weaker than that of Q1.