The Commission will publish the interim economic forecasts for the EU and the euro area on 11 September. The interim forecasts are prepared by DG ECFIN, they appear between the main spring and autumn forecasts, and are based on a more limited data set. They use aggregated macroeconomic data from the larger Member States, in particular on growth and inflation, set in the context of EU-wide economic developments and external factors. The forecast horizon is for the current year, in contrast to the two-year forecasting horizon of the major forecasts. The autumn forecasts are scheduled for publication on 9 November.
The Commission will publish a Communication on the mid-term review of the Jobs and Growth Initiative. This will establish orientations and promote a convergence of views before the Commission submits its “strategic report” in December (see below). It will lay out why the current integrated guidelines have functioned well and offer a platform for undertaking Lisbon reforms in the Member States, as well as for moving into the next three-year cycle.
The DG ECFIN will publish the next quarterly report on the euro area. The QREA contributes to a better understanding of economic developments in the euro area with the aim of informing policy-making and improving public debate on the euro-area economy. As well as presenting a general overview of the euro-area economy, it also contains focus sections that analyse specific, relevant developments and topical issues. This autumn edition will highlight risk sharing in the euro area and the resilience of the euro-area economy.
The Commission will publish a Communication based on the EU Economy 2007 Review prepared by DG ECFIN. The review is a substantive report on the economic situation and the policy issues in the EU. It is targeted at professionals but is also accessible to non-specialists. As well as forming part of DG ECFIN’s economic surveillance activities, the review feeds into the Commission’s and DG ECFIN’s current work priorities. This year’s review will focus on EMU, productivity dynamics and long-term growth.