General Information

Thematic: Economic forecasts

Keywords: economic forecasts GDP consumption imports exports HICP unemployment fiscal balance general government debt current account balance

Description

The European Economy series contains important reports and communications from the Commission to the Council and the Parliament on the economic situation and developments, such as the European economic forecasts, the annual EU economy review and the Public finances in EMU report.

Summary

A recovery is on the horizon, but it will be a long and stony road before the EU economy reaches sustained growth. Following the escalation of the sovereign-debt crisis in the second half of 2011, the EU economy has entered a shallow recession in the fourth quarter. Since then, we have seen tentative signs of stabilisation. Yet, as the outlook for the EU economy is slowly improving, the situation remains extraordinarily fragile, and the risk of a renewed aggravation of the crisis is still present. The ebbing of the greatest financial market stress creates the opportunity for policy-makers to focus on measures to underpin the strength of the expected recovery and the growth potential.

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