Download or read book European Economic Forecast written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past winter, the EU economy performed better than expected. As the disruptions caused by the war in Ukraine and the energy crisis clouded the outlook for the EU economy, and monetary authorities around the world embarked on a forceful tightening of monetary conditions, a winter recession in the EU appeared inevitable last year. The Autumn 2022 Forecast had projected the EU economy to contract in the last quarter of 2022 and the first quarter of 2023. Instead, latest data point to a smaller-than-projected contraction in the final quarter of last year and positive growth in the first quarter of this year. The better starting position lifts the growth outlook for the EU economy for 2023 and marginally for 2024. Compared to the Winter 2023 interim Forecast, EU GDP growth is revised up to 1.0% in 2023 (from 0.8%) and 1.7% in 2024 (from 1.6%), virtually closing the gap with potential output by the end of the forecast horizon (see Special Issue I.4.1). Upward revisions for the euro area are of a similar magnitude, with GDP growth now expected at 1.1% and 1.6% in 2023 and 2024 respectively. Inflation also surprised again to the upside, and it is now expected at 5.8% in 2023 and 2.8% in 2024 in the euro area, respectively 0.2% and 0.3% higher than in winter.
Download or read book European Economic Forecast written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Economic Forecast written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU economy continues to show resilience in the face of the formidable shocks it has endured in recent years, but it has lost momentum. Economic activity in the EU was very subdued in the first half of 2023. Weakness in domestic demand, in particular consumption, shows that high, and still increasing consumer prices for most goods and services, are taking a heavy toll, more than expected in the Spring Forecast. This is despite declining energy prices and an exceptionally strong labour market, which has seen record low unemployment rates, continued expansion of employment and rising wages. Meanwhile, the sharp slowdown in the provision of bank credit to the economy shows that monetary policy tightening is working its way through the economy. Survey indicators point to slowing economic activity in the summer and months ahead, with continued weakness in industry and fading momentum in services, despite a strong tourism season in many parts of Europe. The weaker growth momentum in the EU is expected to extend to 2024, and the impact of tight monetary policy is set to continue restraining economic activity. As the outlook for global growth and trade remains broadly unchanged compared to spring, the EU economy cannot count on strong support from external demand. However, a mild rebound in growth is still projected next year, as inflation keeps easing, the labour market remains robust and real incomes gradually recover. Retail energy prices are set to continue declining for the remainder of 2023, but at a slowing pace. They are projected to increase slightly again in 2024, driven by higher oil prices. Inflation in services is set to continue moderating as demand softens, under the impact of monetary policy tightening and a fading post-COVID boost. The other non-energy components of the consumption basket will continue contributing to easing inflation over the forecast horizon, also reflecting lower input prices and normalising supply chains. Overall, this forecast revises growth down for the EU and the euro area in both 2023 and 2024. HICP inflation is expected to continue declining, broadly in line with the spring projections.
Download or read book OECD Economic Outlook Volume 2021 Issue 1 written by OECD and published by OECD Publishing. This book was released on 2021-05-31 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.
Download or read book Economic Forecasts and Fiscal Policy in the Recently Acceded Member States written by Filip Keereman and published by . This book was released on 2005 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forecast errors are large in the recently acceded Member States and the mistakes have a similar order of magnitude in the Commission services' forecasts, Consensus Forecasts and projections made by national authorities. The prediction mistakes cannot be attributed to bias or autocorrelation. Volatility in the economic developments and data revisions creating uncertainty on the state of the economy appear the main explanation for the difficulty to make good forecasts. Prediction mistakes for GDP growth lead to wrong projections for general government balances through the operation of the automatic stabilisers, but errors in the discretionary part of the government balance are the largest source of fiscal forecast mistakes. Growth forecast errors influence fiscal policy decisions.
Download or read book European Economic Forecast written by and published by . This book was released on 2022 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU economy entered the new year on a weaker note than previously projected. Having regained the pre-pandemic output level in summer last year, a moderate slowdown was already expected in the Autumn Forecast. However, since then headwinds to growth have intensified. After a soft patch, the economic expansion is set to regain pace in the second quarter of this year and remain robust over the forecast horizon. Following a strong recovery by 5.3% in 2021, the EU economy is now forecast to grow by 4.0% in 2022, as in the euro area, and by 2.8% in 2023 (2.7% in the euro area).
Download or read book Annual Report on the Euro Area 2006 written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2007 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first annual report on the euro area provides an economic analysis of issues raised in the annual statement on the euro area. Chapter 1 focuses on macroeconomic developments, highlighting the factors driving the economic recovery and summarising the upside and downside risks to the economic outlook. Chapter 2 explores the positive contribution of macroeconomic policies to the euro-area's economic recovery and the need for an adjustment in the macroeconomic-policy setting in view of the improved outlook. Chapter 3 discusses the importance of well-functioning product, labour and capital markets for a dynamic and smooth functioning EMU and their contribution to dealing with unwarranted cross-country growth and inflation differences. Chapter 4 describes the emergence of the euro as a global currency, the euro-area's developing role in international financial institutions and fora and the challenges posed to the world economy by unsustainable current-account imbalances. Communication from the Commission to the Council, the European Parliament, the European Economic and Social Committee, the Committee of the Regions and the European Central Bank. COM(2006)392 final.The first Annual Statement on the Euro Area calls for a prudent macroeconomic policy mix delivering price stability and reduced fiscal imbalances in view of the more positive economic outlook for the euro area, coupled with structural reforms to improve the functioning of product, labour and capital markets and measures to deepen the Internal Market. On external issues, the need for the euro area to project a strong voice on the world economic stage is emphasised in view of the growing importance of the euro as a global currency and the challenges posed by, inter alia, global imbalances.
Download or read book OECD Economic Outlook written by and published by . This book was released on 1974 with total page 1046 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Economic Forecast written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite entering the year on a weak note, the outlook for the EU economy before the outbreak of the war was for a prolonged and robust expansionary phase. The pandemic situation was improving, while most of the headwinds posed by logistic and supply bottlenecks and pressures on the price of energy and other commodities were expected to fade in the course of this year. Economic activity would continue to be supported by an improving labour market, large accumulated savings, favourable financing conditions and the deployment of the Recovery and Resilience Facility (RRF). The war has changed the picture, by bringing renewed disruptions in global supply, fuelling further commodity price pressures and heightening uncertainty. The EU is first in line among advanced economies to take a hit, due to its geographical proximity to Russia and Ukraine, heavy reliance on imported fossil fuels, especially from Russia, and high integration in global value chains. Large inflows of people fleeing the war – as many as 5 million in the first 10 weeks since the start of the war – pose a further organisational and coordination challenge for the EU.
Download or read book OECD Economic Outlook Volume 2021 Issue 2 written by OECD and published by OECD Publishing. This book was released on 2021-12-01 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global recovery from the COVID-19 pandemic is uneven and becoming imbalanced. The OECD Economic Outlook, Volume 2021 Issue 2, highlights the continued benefits of vaccinations and strong policy support for the global economy, but also points to the risks and policy challenges arising from supply constraints and rising inflation pressures.
Download or read book European Economic Forecast written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Summer 2022 Economic Forecast shows that the war in Ukraine continue to negatively affect the economy of the European Union (EU), setting it on a path of lower growth and higher inflation compared to the previous forecast. This forecast projects that the EU economy would grow by 2.7% in 2022 and 1.5% in 2023. Growth in the euro area was expected at 2.6% in 2022, moderating to 1.4% in 2023. Annual average inflation was projected to peak at historical highs in 2022, at 7.6% in the euro area and 8.3% in the EU, before easing in 2023 to 4.0% and 4.6%, respectively.
Download or read book The European Economy written by Christopher M. Dent and published by Routledge. This book was released on 2002-09-11 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shape of the world economy is changing. Globalisation and regionalism have led to the development of powerful but interdependent economic blocs. Much economic potential has shifted from the Atlantic to the Pacific area. In view of this The European Economy argues that economists need a broader, worldwide base of information if these processes and their effect on Europe are to be fully understood. Topics discussed include: * Europe's experience of the growing trend of regionalism * the single market * plans for economic union * EU enlargement * Europe's triad rivals * EU external trade and trade relations * technology and innovation * environmental issues This fresh approach highlights the issues which will challenge European countries into the twenty-first century.
Download or read book Regional Economic Outlook Europe written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2022-10-13 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The war in Ukraine is taking a growing toll on Europe’s economies. The worsening energy crisis has depressed households’ purchasing power and raised firms’ costs, only partly offset by new government support. Central banks in the region and the world are acting more forcefully to bring high and persistent inflation down to targets, and global financial conditions have tightened. European policymakers are facing severe trade-offs and tough policy choices. A tightening macroeconomic policy stance is needed to bring down inflation, while helping vulnerable households and viable firms weather the energy crisis. But policies need to stay nimble and agile and adjust should additional shocks materialize.
Download or read book Golden Growth written by Indermit S. Gill and published by World Bank Publications. This book was released on 2012-04-27 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report documents the impressive achievements of the European growth model over the last 50 years. Accounting for the stresses it is experiencing and assessing the longer-term challenges that Europe will face, the report then evaluates the six principal components of the model: Trade, Finance, Enterprise, Innovation, Labor, and Government. It finds that the European growth model has been a powerful engine for economic convergence, helping developing countries in Europe catch up to their richer neighbors and become high-income economies. But recent changes in and outside Europe necessitate change. The report proposes the adjustments needed to make trade and finance work even better, to encourage enterprise and innovation in parts of Europe which have begun to lag, and address shortcomings in the functioning of labor markets and governments. The changes proposed would restart the European convergence machine, make Europe's enterprises competitive, and help Europeans afford the highest standards of living in the world.
Download or read book European Economy News written by and published by . This book was released on 2006 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Economic Outlook Europe April 2023 written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-04-28 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth has tumbled across Europe, inflation remains too high, and financial sector risks have materialized. Taming sticky inflation while avoiding financial stress and a recession will require tighter macroeconomic policies—tailored to changing financial conditions, stronger financial regulation and supervision, and bolder supply-side reforms that heal scars from the COVID-19 and energy crises.
Download or read book OECD Economic Outlook Volume 2019 Issue 2 written by OECD and published by OECD Publishing. This book was released on 2019-12-10 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances. Coverage is provided for all OECD member countries as well as for selected non-member countries.
