{"id":416224,"date":"2025-01-15T10:59:53","date_gmt":"2025-01-15T09:59:53","guid":{"rendered":"https:\/\/www.eunews.it\/2025\/01\/15\/de-guindos-ora-preoccupa-bassa-crescita\/"},"modified":"2025-01-15T16:04:31","modified_gmt":"2025-01-15T15:04:31","slug":"de-guindos-risks-shifting-from-high-inflation-to-low-growth","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2025\/01\/15\/de-guindos-risks-shifting-from-high-inflation-to-low-growth\/","title":{"rendered":"De Guindos: “Risks shifting from high inflation to low growth.”"},"content":{"rendered":"

Brussels – “The disinflation process is well on track,” but\u00a0this is only seemingly good news. Why?\u00a0European Central Bank Vice President Luis De Guindos <\/strong>explains that for every knot\u00a0untied, new ones emerge. “The balance of macroeconomic risks has shifted from concerns about high inflation to concerns about low growth<\/strong>,” he warns from Madrid at the\u00a015th edition of Spain Investors Day<\/a>.<\/span><\/span><\/span><\/p>\n

“The outlook is clouded by even higher uncertainty, driven by potential global trade frictions, macroeconomic fragmentation, geopolitical tensions, and fiscal policy concerns in the euro area,” De Guindos said. The ECB vice-president shares with the audience the data available to the Eurotower, which is far from encouraging. “The latest information suggests that the economy is losing momentum<\/strong>,” he acknowledges.<\/span><\/span><\/span><\/p>\n

Specifically, manufacturing output is\u00a0still contracting, and in services, growth is slowing due to persistently high energy prices. In this regard, it should not be forgotten how the ECB is starting to look at gas cost trends with renewed concern<\/a>. Moreover, companies are holding back on investments, and exports remain weak, with some European industries struggling to stay\u00a0competitive. This picture shows an economic and productive trend that remains bleak.<\/span><\/span><\/span><\/p>\n

<\/a>
ECB vice-president, Luis De Guindos [photo: imagoeconomica]<\/figcaption><\/figure>\n

What about the immediate future? “Provided trade tensions do not escalate, growth is projected to be just above 1% in 2025 <\/strong>and to move slightly up to modest levels in 2026 and 2027,” De Guindos said: a\u00a0less-than-stellar performance, which could also be lower and turn into low growth.<\/span><\/span><\/span><\/p>\n

Trade tensions with China, possible tensions with the United States, the Russian-Ukrainian conflict, instability in the Middle East, and, on top of that, the budget laws of Austria, Belgium, and Spain that still have to be submitted\u00a0in Brussels complicate the coordination of\u00a0spending policies: these are the downside factors, explains De Guindos. Who warns, “This environment of very high uncertainty could dent confidence and dampen the recovery in consumption and investment.”<\/strong><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

European Central Bank vice president admits that risks to economic resilience have changed. The issue of high energy costs remains but the disinflation process is on track<\/p>\n","protected":false},"author":494,"featured_media":416218,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[25705,25727],"tags":[25881,26112,26151,25828,26107,26311,29787],"class_list":["post-416224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in-the-spotlight","tag-bce-en","tag-bank-central-en-en","tag-eurozone-en","tag-inflation-en","tag-luis-de-guindos-en","tag-war-commercial-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/416224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=416224"}],"version-history":[{"count":4,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/416224\/revisions"}],"predecessor-version":[{"id":416255,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/416224\/revisions\/416255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/416218"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=416224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=416224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=416224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}