The outlook for the euro area’s economy is quite solid. This is in considerable part due to the robust projection for the world economy. The World Bank recently estimated that growth will be 3.1%; this means that the world economy’s growth potential will be fully or almost fully reached for the first time since 2008.
The strongest driver of global growth will be the East Asian economies, China in particular. The World Bank sees emerging markets growing by 4.5% in 2018 and by 4.7% in 2019. The global and emerging market growth has positive effects on the euro area economy as well.