Highlights of the EU winter economic forecasts
- Raises EZ 2015 GDP to 1.3% from 1.1%. Sees EU GDP at 1.7%
- 2016 EZ GDP at 1.9%, EU 2.1%
- Cuts unemployment forecast to 11.2% from 11.3% (altogether now “Whooooooo”)
- CPI 2015 -0.1% vs +0.5% prior. 2016 +1.3% vs 1.5% prior
- Says downside risks have intensified but there are new positive factors
- Uncertainty surrounding economic forecasts has increased
- Inflation should increase as of mid-2015
- Conditions are in place for sustained growth and job creation
What a load of cobblers
“Europe’s economic outlook is a little brighter today than when we presented our last forecasts. The fall in oil prices and the cheaper euro are providing a welcome shot in the arm for the EU economy. Meanwhile, the Investment Plan for Europe and the ECB’s important recent decisions will help create a more supportive backdrop for reforms and smart fiscal policies. But there is still much hard work ahead to deliver the jobs that remain elusive for millions of Europeans.” says Pierre Moscovici, commissioner for economic and financial affairs
EU economic forecasts 05 02 2015
