Consumer confidence, however, held steady at the previous month's level. With key parameters now aligned, the euro area looks poised for a continued economic upturn. All in all, economic growth outside of the euro area is likely to remain robust. This supports euro-area export growth. Investment continues to benefit from very favourable financing conditions.
In the past few years, enterprises have improved their efficiency and adjusted their balance sheets. As a result, profits have also risen considerably. These factors are helping to create a favourable investment climate. Euro-area consumption is likely to rise relatively strongly, in sync with the growth in disposable income, by next year at the latest.