Looking further ahead, the conditions are in place for real GDP in the euro area to grow at around its potential rate, as projected by Eurosystem staff in June. Growth in the economies of the euro area’s main trading partners is providing ongoing support for euro area exports.
However, given that the tightness in labor market conditions varies by industry, the current moderate tightness can be regarded as a chance to increase mobility in the labor market -- including inter-industry labor reallocation -- in wider areas. Each firm will need to retrain its management staff to enhance their ability and adjust their mindset.