Economic activity in the eurozone is slowing, with rising inflation affecting purchasing power, European Central Bank (ECB) President Christine Lagarde said during a press conference following the regulator's meeting on Thursday.
Report informs, citing Interfax-Ukraine, that, according to Lagarde, the supply-side constraints and increasing uncertainty are putting pressure on the economy,
She said Russia's war against Ukraine also continues to negatively affect the eurozone's GDP.
Lagarde said there are signs that some supply-side problems may be easing, but added that European companies continue to face rising costs and supply chain problems.
All these factors combined significantly cloud the outlook for the second half of 2022 and beyond, the ECB chief said.