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Published on 10-11-11

The European Commission's autumn automatic forecast projects that GDP in the EU will stagnate until well into 2012. EU GDP growth for 2012 is forecast at about 0.6%, down from an estimated 1.6% in 2011. By 2013, a return to slow growth of about 1.5% is expected. For the UK, the revised estimate is for 0.7% growth in 2011, dropping to 0.6% in 2012 with a modest rise to 1.5% in 2013. The Commission's forecast for eurozone growth is 1.5% in 2011, 0.5% in 2012 and 1.3% in 2013.

    Commissioner Olli Rehn

    Commissioner Olli Rehn

    Commission Vice-President for Economic and Monetary Affairs Olli Rehn said: "Growth has stalled in Europe, and there is a risk of a new recession. The key for the resumption of growth and job creation is restoring confidence in fiscal sustainability and in the financial system and speeding up reforms to enhance Europe's growth potential."

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    Last update: 15/11/2011  |Top