国际英语资讯:EU sees broad-based economy recovery, but challenges remain_时事

国际英语资讯:EU sees broad-based economy recovery, but challenges remain

In particular, it is for the first time in almost a decade that the economies of all EU member states are expected to grow throughout the entire period from 2016 to 2018.

GROWTH MAINLY DRIVEN BY DOMESTIC DEMAND

The world economy has shown positive signs of stabilization and recovery this year, particularly the steady growth observed in major economies, creating a better export market for the EU compared with previous year.

During the first four months of 2017, EU member states exported goods worth 607 billion euros (680 billion U.S. dollars) to the rest of the world, recording a year-on-year increase of nine percent. Meanwhile, imports have grown by 10 percent.

Compared with foreign trade, private consumption has been playing a more significant role in stimulating EU economic growth in the context of sustained improving labor markets in Europe and the increase in employees' nominal income.

In April, the EU unemployment rate fell to 7.8 percent, the lowest level since December 2008, thanks to the employment of young people under the age of 25 which has significantly improved.

The average unemployment rate in the EU could be around eight percent in 2017 and would further decline to 7.7 percent next year, according EU estimates.

In the past, growth in euro area, the core of the EU, has been closely interdependent with world trade, with external demand playing a central role in supporting recoveries after the dotcom crash and the Lehman bankruptcy, Draghi reminded.