Navigation path

Login   |   Register
 

Advanced search Search in:    Audio    Photo    Video    Shotlist


OR









Press conference by Olli Rehn on the winter economic forecasts for 2012-2014

4,876 views

On 22 February 2013, Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro, presented the European Economic Winter forecast 2012-2014. While financial market conditions in the EU have improved substantially since the summer of 2012, economic activity was disappointing in the second half of 2012. However, leading indicators suggest that GDP in the EU is now bottoming out and we expect economic activity to gradually accelerate. The pick-up in growth will initially be driven by increasing external demand. Domestic investment and consumption are projected to recover later in 2013, and by 2014 domestic demand is expected to take over as the main driver of strengthening GDP growth. The weakness of economic activity towards the end of 2012 implies a low starting point for 2013. Combined with a more gradual return of growth than earlier expected, this leads to a projection of low annual GDP growth in 2013 of 0.1% in the EU and a contraction of -0.3% in the euro area. Quarterly GDP developments are somewhat more dynamic than the annual figures suggest, and GDP in the fourth quarter of 2013 is forecast to be 1.0% above the level reached in the last quarter of 2012 in the EU, and 0.7% in the euro area. The contrast between the improved financial market situation and the muted macroeconomic prospects for 2013 is to a large extent due to the balance-sheet adjustment process, which continues to weigh on short-term growth. As this process advances, it will also strengthen the basis for growth in 2014, which is projected at 1.6% in the EU and 1.4% in the euro area.
PHOTO LINK INFO PRESS

Type: EbS   Reference: 92977   Date: 22/02/2013   Duration: 01:02:20
To download, please log in



Related media

Press conference by Olli Rehn, Vice-President of the EC, on the winter economic ...
Ref: P-022731/00-01
Date: 22/02/2013
Extracts from the press conference by Olli Rehn on the winter economic forecasts ...
Ref: 92978
Date: 22/02/2013
Press conference by Olli Rehn on the winter economic forecasts for 2012-2014
Ref: 92977
Date: 22/02/2013
Video Player   Need some help?


Investment plan


Mon 27/04
European Commission - Press release Brussels, 27 April 2015 Today, the European Commission will step up its contribution with €70 million to ensure the complete return to a safe environment at the Chernobyl site (Ukraine).
Mon 27/04
- Fact Sheet European Commission Brussels, 27 April 2015 The European Commission is determined to make sure that Ukraine has all the support it needs, in the short and long term, to undertake the political and economic reforms that are necessary to consolidate a democratic, independent, united and prosperous Ukraine.[1]...
Mon 27/04
European Commission - Daily News Daily News 27 / 04 / 2015 Brussels, 27 April 2015 Road safety: Commission streamlines restrictions on drink driving Together with speeding, running traffic lights and the failure to use seat-belts, drink driving is one of the four "big killers" causing 75% of road fatalities.
Mon 27/04
European Commission - Speech - [Check Against Delivery] Brussels, 27 April 2015 Jonathan Hill, European Commissioner for financial stability, financial services and capital markets union European Financial Integration and Stability Conference European Commission Charlemagne building Good morning ladies and gentlemen.
Mon 27/04
European Commission - EUROSTAT Brussels, 27 April 2015 Among the 44.1 million persons in the European Union (EU) working part-time in 2014, 9.8 million were under-employed meaning they wished to work more hours and were available to do so.
Sun 26/04
European Commission - Press release Brussels, 26 April 2015 The European Commission is making available €3 million in its immediate response to the vast devastation caused by the earthquake that hit Nepal on Saturday. This comes in addition to the assistance from the Member States and the deployment of European...
Sun 26/04
European Commission - Statement Statement Statement Brussels, 26 April 2015 I have mobilized all resources of the European Commission for emergency response to the devastating earthquake that hit Nepal yesterday. The European Union is there to help when disaster strikes, no matter where.  European experts in humanitarian aid and civil...
Sat 25/04
European Commission - Press release Brussels, 25 April 2015 EU Commissioner for Humanitarian Aid and Crisis Management, Christos Stylianides, who is visiting South Sudan, announces that the Commission is requesting new vital support in the amount of €50 million from the European Union for the victims of this humanitarian crisis.
Sat 25/04
European Commission - Statement Brussels, 25 April 2015 In the aftermath of the earthquake that hit Nepal and India, High Representative and Vice-President Federica Mogherini, the EU Commissioner for Development Neven Mimica and the Commissioner for Humanitarian Aid and Crisis Response Christos Stylianides made the following statement:  We are deeply...
Sat 25/04
European Commission - Statement Riga, 25 April 2015 (speaking in Latvian) Minister,  Ladies and Gentlemen,  This is the final day of the informal meeting of European Union Finance Ministers in Riga. I would like to thank Minister Reirs, the Latvian Presidency and its team for the substantial work that they have invested in the organisation...

Go to useful links page Useful links

Go to rss page Go to EU Tube page Go to twitter page Go to facebook page Go to contact page


Credit © European Union, 2015