Euroland brakes. Today the spring forecast

Growth in the first quarter of the year fell to 0.4%
Euroland brakes. Today the spring forecast
03 May 11:45 2018 Print This Article

The slowdown in economic growth in the euro area has materialized as expected. Today, with the “spring forecasts”, there will be a first opinion of the European Commission on the nature of this slowdown and, above all, if it can have depressing effects on the growth of the entire 2018.

According to the preliminary estimate released by Eurostat, the EU statistical office, in the first quarter the GDP of the euro area increased by 0.4 percent compared to the previous three months. The rate of expansion on an annual basis has declined to 2.5%.

In the last quarter of 2017, the GDP of the currency union had increased by 0.7 per cent from the previous three months and a plus 2.8 per cent on an annual basis. Looking at the whole of the European Union at 28, again according to Eurostat, the GDP recorded a plus of 0.4 percent of the economy and a plus 2.4 for a year on an annual basis.

In the winter forecasts, released on 7 February, the European Commission had forecast growth of 2018 at 2.3 percent, indicating a plus 2 percent on 2019. This year’s forecast was revised upwards by two decimal points of percentage point compared to previous estimates (updated every three months), that of 2019 by one decimal place. Now the risk is that the 2018 data is the subject of a possible filings.

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Nicole Volpe
Nicole Volpe

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