Euro bank chief points to eurozone growth pick-up
European Central Bank's Draghi says eurozone survey data have echoes of what was seen in US
Associated Press
2014-01-25 03:01 AM

DAVOS, Switzerland (AP) -- European Central Bank president Mario Draghi says a recent stream of "solid" survey data are pointing to a pick-up in economic growth for the eurozone over coming months.

Draghi told delegates at the World Economic Forum on Friday the eurozone is exhibiting signs similar to those displayed by the U.S. a year and a half ago when the growth figures lagged the findings from surveys of business and consumers.

Now, the U.S. has achieved a level of growth that has borne down on unemployment and prompted the Federal Reserve to start reducing its monetary stimulus.

In the third quarter of 2013, the eurozone grew by a paltry quarterly rate of 0.1 percent. Figures for the final three months are due next month and most economists expect a modest improvement.

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