ECB publishes the latest survey from professional forecasters
GDP
- 2015 unch 1.4%
- 2016 1.8% vs 1.6% prior
- 2017 1.8% unch Long term GDP 1.7% unch
HICP
- 2015 0.2% vs 0.1% prior
- 2016 1.3% vs 1.2% prior
- 2017 1.6% unch
- Long term 1.9% vs 1.8% prior
This is a quarterly report commissioned by the ECB
SPF respondents see a number of factors that support the strong pick-up in
inflation in 2016 and 2017. The main factors include the confirmation of ongoing,
albeit moderate, growth in economic activity, monetary policy measures, exchange
rate developments and base effects from past oil price developments. However,
respondents expect the pick-up in economic activity to exert only slowly increasing
pressure on prices as the slack remaining in the euro area economy will be removed
only gradually. The impact of structural reform efforts and ongoing adjustments and
rebalancing in some euro area countries is also expected to contribute to containing
inflationary pressures
The full report is here