Draghi says eurozone economic recovery has lost some momentum

The eurozone economy has lost some momentum and, while the recovery remains on track, growth has been more modest than the European Central Bank expected, its head Mario Draghi said on Wednesday. 

PHOTO: REUTERS

JUN 3, 20159:46 PM

[FRANKFURT] The eurozone economy has lost some momentum and, while the recovery remains on track, growth has been more modest than the European Central Bank expected, its head Mario Draghi said on Wednesday.

"The recovery is on track. However, we had expected stronger (growth) figures than our projections originally," he told a news conference after the bank held interest rates as expected.

"There has been some modest loss of momentum" mostly due to developments in emerging market economies, he said.

REUTERS