Lagarde Says Downside Risks Less Pronounced Due to Trade Deals

The speaker discusses the economic situation in the euro area, highlighting positive employment and wage growth but noting challenges in transmitting these gains to inflation. Trade agreements are seen as reducing global uncertainty, though Brexit remains a concern. The manufacturing sector is struggling, while services and construction are strong. Overall, the economic outlook is cautiously optimistic, with some positive signs but ongoing challenges.

How does the speaker view the current state of trade agreements and their potential impact?

What does the composite PMI indicate about the manufacturing and service sectors in the euro area?