Investment is expected to remain strong, benefiting from an extended period of very favourable financing conditions, balance sheet restructuring, accumulated and ongoing strong earnings, and gains in business efficiency. Consumption growth in the euro area should also strengthen further over time, in line with developments in real disposable income, as employment conditions continue to improve.
This outlook was already embodied in the ECB staff macroeconomic projections of September, which for the first time included Slovenia as part of the euro area in the projections for 2007.