ALB Micki

Wednesday, December 4, 2024

Modest Growth Forecast for Eurozone

 

“After the stagnation in ’23, the European economy is growing again and is set to accelerate over the next two years, however growth remains modest and exposed to important downside risks,” said Gentiloni.


Growth started to recover earlier this year as new wage agreements began partially restoring household finances. The commission said that “the restraint to consumption appears to be loosening.” It added: “As the purchasing power of wages gradually recovers and interest rates decline, consumption is set to expand further.”


Inflation is forecast to come in at 2.1% next year, just above the European Central Bank’s target of 2% and a substantial relief from the peak of 10.6% recorded in October 2022.


Germany, the eurozone’s biggest economy is set for a second consecutive year of shrinking output this year at minus 0.1% percent, with a moderate rebound next year at 0.7%. 

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