Economic outlook

In the euro area, labour market participation among the working-age population has caught up with that of the United States. Yet a decline in the participation of especially young people remains a cause for concern in both regions.

Concerns about a protracted period of low growth soon followed the recovery from the Great Recession. Recent strength in the euro area economy does not exclude the risk of secular stagnation.

Sweden's economy is performing well. However, if it were to deepen, the downward turn in house prices could cut the positive trend in the economy.

Following the steep contraction caused by the financial crisis, there have been substantial differences in economic performance across the different countries in the euro area. Healthy economic structures appear to have facilitated a speedier recovery.

The favourable outlook for the global economy is overshadowed by the threat of protectionism. In the euro area growth has picked up. Some of this acceleration is on a sustainable basis, but long-term growth is likely to remain slower than pre-crisis growth.

The global economy is experiencing brisk, broadly based growth in the current year. World trade is undergoing a growth spurt. At the same time, inflation remains sluggish.

How would a rapid but controlled restructuring of China’s economy or a sudden halt to debt-driven growth affect the Chinese and euro area economies?

Labour productivity growth has slowed in many advanced economies. Is this phenomenon temporary or permanent, and what is the cause?