EU's Almunia sees gradual rise in euro area demand

European Monetary Affairs Commissioner Joaquin Almunia said on Thursday 24 November he expects a gradual rise in domestic demand to boost recovery in the European Union economy next year.

``Although economic activity in the euro area and the EU has been more subdued this year than projected in the spring, it is expected to return to potential at the beginning of next year,'' Almunia said at the European Policy Forum in London. ``The recovery is supported by an acceleration in domestic demand.'

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