July 8, 2020 / 2:48 PM / a month ago

Euro zone economy may have shrunk less than expected, says ECB's VP

FILE PHOTO: European Central Bank (ECB) Vice-President Luis de Guindos speaks during a news conference after the informal meeting of ministers for economic and financial affairs (ECOFIN) and Eurogroup in Helsinki, Finland, 13 September 2019. Lehtikuva/Emmi Korhonen via REUTERS

FRANKFURT (Reuters) - The euro zone economy may have shrunk by less than the 13% forecast by the European Central Bank in the three months to the end of June, the ECB Vice President Luis de Guindos said on Wednesday.

“In light of the data we’ve received in the last days and weeks, it may be a bit less negative than the 13% we forecast,” de Guindos said.

“The latest data has been relatively more optimistic than we were expecting just a few weeks ago.”

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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