This is evidenced by 15 consecutive quarters of positive real GDP growth, unemployment at its lowest level since 2009 and over four and a half million more people employed now than was the case three years ago. Growth in manufacturing also reached its highest rate since 2011. Moreover, the current recovery has shown considerable resilience amid an environment of uncertainty.
Typically, euro area activity closely co-moves with world trade, so if the latter slows this acts as a headwind for growth. However, the strength of domestic demand has enabled euro area growth to continue to expand, despite the marked slowdown in global trade (Chart 1). 1 / 10  BIS central bankers' speeches  What, then, is supporting domestic demand?