EU Commission out with their latest forecasts 11 May
- 2018 GDP unch at 1.8%
- EU GDP growth 1.9% for 2017 and 2018
- UK 2017 GDP 1.8% vs 1.5% prev but down to 1.3% in 2018 vs 1.2% prev
- EZ 2017 inflation f/cast down to 1.6% vs 1.7% prev
- French deficit f/cast 3% of GDP in 2017 vs 2.9% prev, 3.2% in 2018
- EZ 2017 unemployment 9.4% and 8.9% in 2018
- German trade surplus slowing down to 8.0% of GDP in 2017 and 7.6% in 2018 vs 8.5% in 2016
Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union, said:"Today's economic forecast shows that growth in the EU is gaining strength and unemployment is continuing to decline. Yet the picture is very different from Member State to Member State, with better performance recorded in the economies that have implemented more ambitious structural reforms. To redress the balance, we need decisive reforms across Europe from opening up our products and services markets to modernising labour market and welfare systems. In an era of demographic and technological change, our economies have to evolve too, offering more opportunities and a better standard of living for our population."
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: "Europe is entering its fifth consecutive year of growth, supported by accommodative monetary policies, robust business and consumer confidence and improving world trade. It is good news too that the high uncertainty that has characterised the past twelve months may be starting to ease. But the euro area recovery in jobs and investment remains uneven. Tackling the causes of this divergence is the key challenge we must address in the months and years to come."
Full report here
