Demand for eurozone goods and services has fallen due to the global economic outlook, the president of the European Central Bank said Monday.
The global economy, which still faces uncertainties and slowdown, has impacted business confidence and investment in the euro area, Christine Lagarde said.
Noting that the eurozone has suffered from a weak growth rate — 0.2% in the third quarter on a quarterly basis, she added: “This weakness has been mainly due to global factors.”
She stressed that the eurozone’s manufacturing sector has been the most severely hit by worldwide developments.
Lagarde said the European