November 28, 2018 / 1:15 PM / 19 days ago

Euro zone growth broad-based but trend is weak: de Guindos

FILE PHOTO: Vice-President of the European Central Bank, Luis de Guindos, June 14, 2018. REUTERS/Ints Kalnins/File Photo

LUXEMBOURG (Reuters) - Euro zone growth remains broad-based but low productivity and high debt keep the overall growth path weak compared with other advanced economies, European Central Bank Vice President Luis de Guindos said on Wednesday.

“Challenges remain in the form of low trend growth compared with other advanced economies, and persistently high public and private debt levels in a number of euro area countries,” de Guindos said in a largely academic speech, which did not touch on monetary policy.

“Further efforts are therefore needed to strengthen productivity growth and boost productive investments to lift long-term potential growth,” he told a conference in Luxembourg.

Reporting by Balazs Koranyi; Editing by Andrew Heavens

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