While Germany is scheduled to grow 2 percent this year, Italy will expand 0.3 percent in 2014, To ensure its debt is sustainable, Prime Minister Matteo Renzi is under pressure to push through spending cuts and foster growth in an economy burdened by the threat of deflation and the highest number of people unemployed in modern history.
The euro is poised to decline against its counterparts in the U.Sas well as those inemerging markets such as Brazil amid monetary easing from the European Central Bank, according to Barclays Plc, The dollar fell as a Commerce Department report showed U.S. consumer purchases increased 2 percent last month after being little changed in April. U.S. jobless-benefit claims declined less than forecast last week, another report showed. They decreased to 312,000, versus a Bloomberg survey’s projection for 310,000. The dollar gained 0.2 percent to $1.3607 per euro.
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