European Central Bank (ECB) President Christine Lagarde speaks during a debate, as part of a plenary session at the European Parliament in Strasbourg, eastern France, on February 15, 2023. AFP
It had previously forecast 0.5 percent growth for this year. "ECB staff then expect growth to pick up further, to 1.6 percent in both 2024 and 2025, underpinned by a robust labour market, improving confidence and a recovery in real incomes," it said.
The outlook for 2024 and 2025 were less rosy than the 1.9 percent and 1.8 percent previously predicted.