Strong economic growth is set to continue, reaching 3.8% in 2018. An improving labour market will underpin household spending. Investment is expected to recover, as a slowdown in projects financed by EU funds in 2016 will be compensated by other new public infrastructure spending and stronger business investment. Exports will continue to benefit from the expansion in the automotive sector, which is ramping up production.
The euro area monetary policy stance remains supportive, but a more ambitious structural reform programme is needed to share prosperity widely across society. In particular, measures to improve efficiency in health care and education services are important to enhance well-being and make growth more inclusive and sustainable.
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NOTE: All signed articles in the OECD Observer express the opinions of the authors and do not necessarily represent the official views of OECD member countries.
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