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Economic and monetary developments
After the contraction in the first quarter of the year, the euro area economy is gradually reopening as the coronavirus (COVID-19) pandemic situation improves and vaccination campaigns make significant progress. The latest data signal a bounce-back in services activity and ongoing dynamism in manufacturing production. Economic activity is expected to accelerate in the second half of this year as further containment measures are lifted. A pick-up in consumer spending, strong global demand and accommodative fiscal and monetary policies will lend crucial support to the recovery. At the same time, uncertainties remain, ... (full story)