A view shows the financial and business district of La Defense in Puteaux near Paris, France, February 7, 2022. REUTERS/Gonzalo Fuentes
Morgan Stanley said on Monday it had revised down its economic growth forecasts for the euro area this year and the next, anticipating a meaningful slowdown in economic growth in the second half of this year.
The investment bank said that while the euro area economy had proved resilient, it faced weakness ahead with energy flows from Russia likely to be significantly reduced and headwinds from China where strict measures to contain COVID-19 are weighing on growth there.
In a note published Monday, Morgan Stanley said it had now lowered its 2022 euro area GDP forecast to 2.7% from 3% previously and shaved 1 percentage point off its 2023 growth forecasts to 1.3%.
“Despite the resilience in economic activity shown so far against geopolitical headwinds, we think more material impacts will show in the second half of the year, through various channels of transmission,” the note said.
Reporting by Dhara Ranasinghe; Editing by Saikat Chatterjee
This article was originally published by Reuters.
In a strategic move to reinforce global trade resilience and enhance logistics efficiency, Dubai Chambers,…
Dubai’s once-booming real estate sector is witnessing a sharp slowdown, with property sales dropping by…
Keturah analysis shows developer transaction volume climbed 42% YoY with a week of the month remaining…
In a significant regulatory development, the Enforcement Directorate (ED) has begun scrutinizing Indian residents who…
Dubai, UAE, 24th March 2026 Real estate leader Sankey Prasad has launched Sterling Ark afteracquiring…
Dubai has announced another significant step towards becoming one of the world’s leading cashless cities,…