Moreover, private consumption should benefit from real disposable income growth, fostered by positive terms-of-trade effects stemming from the past appreciation of the euro.

另外，欧元近来的升值引起了正面的贸易条件效应，由此提高了私人的实际可支配收入，从而有助于私人消费的增加。

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Moreover, private consumption should benefit from real disposable income growth, fostered by positive terms-of-trade effects stemming from the past appreciation of the euro.

另外，欧元近来的升值引起了正面的贸易条件效应，由此提高了私人的实际可支配收入，从而有助于私人消费的增加。

youdao