Luis de Guindos: The euro area - current status and the monetary policy stance Remarks by Mr Luis de Guindos, Vice-President of the European Central Bank, at Deusto Business School, Madrid, 11 February 2019. * * *  Recent economic developments Euro area data have been weaker than expected in recent months.
In fact, industrial production growth fell in the second half of 2018 and the decline was widespread across sectors and most major economies. Business investment weakened. On the external side, euro area trade disappointed, with noticeable declines in net exports.