The eurozone economy has proved more resilient to the energy price shock of 2026 than economists initially expected, supported by increased investment in artificial intelligence, reduced dependence on fossil fuels and higher government expenditure, according to an assessment published by the European Central Bank on Wednesday, 21 October. ECB economists Óscar Arce, Gerrit Koester and Beatrice Pierluigi found that structural changes in European energy consumption have reduced the economic consequences of rising oil and gas prices. Stronger international demand for technology equipment and additional public spending, particularly in Germany, have also supported growth.
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