ECB chief economist Peter Praet said in a speech today that “factors related to protectionism, financial market volatility and vulnerabilities in emerging markets are creating headwinds that are becoming increasingly noticeable”.
He added that “surveys of euro area business activity and sentiment indicators have softened perceptibly relative to their earlier highs, although they remain in expansionary territory and are still above long-term averages for most sectors and countries.”
Here is his full speech. It’s actually identical to the one delivered on November 13.
