Businesses appear stronger than expected, reflecting the lower euro, but we're likely to see consumer confidence weaken on the back of higher inflation. It will be very difficult for the ECB to raise rates. |
Businesses are managing to shrug off the latest increases in oil prices. |
Increasingly we're seeing strong company performance, and that's starting to generate improved job prospects and feeding through to consumers. That should lead to a distinct turnaround in sentiment this year. |