Commission forecasts moderating growth for 2007-2009
The European Commission forecasts economic growth in the European Union to continue albeit at a moderating speed. This growth will contribute to further job creation in the EU, while the widespread budgetary improvement this year is set to come to a halt in 2008-2009.
Growth is moderating but still healthy
In its most recent economic forecast the Commission expects growth to decelerate from 2.9% in 2007 to 2.4% in both 2008 and 2009 in the EU (from 2.6% to 2.2% in 2008 and 2.1% in 2009 in the euro area). The new forecast for 2008 is 0.3 pp. lower than six months ago for both areas.
Read also this thematic article on the Economic forecast - Autumn 2007.