On 9 April 2018, the ECB published its Annual Report 2017. The Annual Report describes the tasks and activities of the European System of Central Banks and reports on the Eurosystem’s monetary policy. The Annual Report states that in 2017, the economic recovery in the euro area developed into a solid and broad-based expansion. The economy grew by 2.5% and by the end of the year had recorded 18 straight quarters of growth.