Euro-Area Economy Set for `Solid Growth,' EU Says
he European Commission raised its forecast for the economy of the dozen nations sharing the euro and predicted ``solid growth'' in 2006.
The commission predicted the $9 trillion economy will grow around 0.6 percent in the current and subsequent quarters, matching the pace of the third quarter. The economy hasn't grown that fast over a nine-month period since the end of 2000 and start of 2001. ``The recovery in the euro area is gaining momentum,'' Klaus Regling, head of the commission's economics department, told a Brussels news conference today. ``We are more optimistic about the outlook for growth.'' Government and industry reports this month showed that the economy is strengthening with investor confidence in Germany, Europe's largest economy, rising the most in more than 12 years. That's prompting economists at JPMorgan Chase & Co. and Morgan Stanley to raise their forecasts for growth next year.
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