Publications

Following subdued growth last year, the EU economy has entered 2024 on a weaker footing than expected. The European Commission’s 2024 Winter interim Economic Forecast revises growth in both the EU and the euro area down for 2023 and 2024.

The European economy has lost momentum this year against the background of a high cost of living, weak external demand and monetary tightening.

The EU economy continues to grow, albeit with reduced momentum. The Summer 2023 Interim Economic Forecast revises growth down for the EU and the euro area in both 2023 and 2024. Headline inflation is expected to continue declining, broadly in line with the spring projections.

The EU economy continues to grow, albeit with reduced momentum. The Summer 2023 Interim Economic Forecast revises growth down for the EU and the euro area in both 2023 and 2024. Headline inflation is expected to continue declining, broadly in line with the spring projections.

The European economy continues to show resilience in a challenging global context. Lower energy prices, abating supply constraints and a strong labour market supported moderate growth in the first quarter of 2023, dispelling fears of a recession and lifting the growth outlook for 2023 and 2024.

Almost one year after Russia launched its war of aggression against Ukraine, the EU economy entered 2023 on a better footing than projected in autumn and is now set to narrowly avoid the recession that was anticipated for the turn of the year.

The EU economy is at a turning point. The shocks unleashed by Russia’s war of aggression against Ukraine are denting global demand and reinforcing global inflationary pressures. As a result, although growth in 2022 is set to be better than previously.

The shocks unleashed by Russia’s war of aggression against Ukraine continue to negatively affect the EU economy, setting it on a path of lower growth and higher inflation compared to the Spring Forecast.

The Spring 2022 Economic Forecast revises the EU’s growth outlook downwards and the forecast for inflation upwards on the back of the impact of Russia’s war of aggression against Ukraine on the European economy.