Eurozone | Solid growth and broadly unchanged projections, with protectionist risks

Confidence weakened in 1Q18 and hard data start to reflect this softer mood, although fundamentals remain robust. We keep our growth forecasts broadly unchanged, reaching 2.3% in 2018 and 1.8% in 2019. Inflation is expected to hover around 1.5% during 2018-19 but increasing gradually, driven by core components. Risks are tilted to increased protectionism.

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