European Central Bank - Annual Report 2006

According to the European Central Bank's Annual Report 2006, in 2006 the euro area economy expanded robustly.

"Notwithstanding the impact of high and volatile oil prices, real GDP rose by 2.8% in 2006, compared with 1.5% in 2005. The economic recovery gradually broadened in the course of the year, and the nature of the economic expansion became increasingly selfsustaining, with domestic demand acting as the main driver. In 2006 real GDP growth was, on average, significantly above potential

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