Despite signs of eurozone stagnation, the European Central Bank (ECB) is expected to hold its interest rates steady for now. Analysts at Pansen Macro point to a temporary slowdown in GDP growth and believe the ECB sees it as an isolated incident rather than a structural problem. 0.1% growth in Q3 is projected, though still a mere marginal improvement after months of sluggish industrial activity and subdued consumer demand. Claus Vistesen, from Pansen Macro, explained that this slightly optimistic outlook counters the ECB’s own forecast for slower economic growth. This view reflects the ECB’s belief that the current slowdown in GDP is primarily due to weaker manufacturing output, not a larger issue affecting the entire economy.