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Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast

Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, gave a press conference on the 2008-2009 economic forecast. Growth in the European Union is expected to ease to 2% in 2008 and 1.8% in 2009 from 2.8% in 2007 (1.7% and 1.5% in the euro area from 2.6% in 2007), according to the Commission's spring economic forecast. The moderation in growth results from the persisting turmoil in the financial markets, the marked slowdown in the United States and soaring commodity prices, all of which are taking their toll on global activity. The EU economy is holding up relatively well thanks to sound fundamentals and is expected to create 3 million new jobs in 2008-2009 on top of the 7½ million in 2006-2007. But consumer price inflation is expected to surge temporarily to 3.6% this year in the EU against 2.4% in 2007 due to soaring energy and food prices, before coming down to an expected 2.4% in 2009 ( equivalent figures for euro area are 3.2% and 2.2% versus 2.1% in 2007).
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-01
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-02
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-03
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-04
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-05
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-06
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-07
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-08
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-09
Date: 28/04/2008
Press conference by Joaquín Almunia, Member of the EC, on the 2008-2009 economic forecast Joaquín Almunia at the lecturn
Ref: P-013818 /00-10
Date: 28/04/2008




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