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European Economic Forecast – Autumn 2014: Slow recovery with very low inflation

Author(s): Directorate General for Economic and Financial Affairs

Slow recovery with very low inflationpdf(12 MB) Choose translations of the previous link 

The European Commission's autumn forecast projects weak economic growth for the rest of this year in both the EU and the euro area. Real GDP growth is expected to reach 1.3% in the EU and 0.8% in the euro area for 2014 as a whole. Growth is expected to rise slowly in the course of 2015, to 1.5% and 1.1% respectively, on the back of improving foreign and domestic demand. An acceleration of economic activity to 2.0% and 1.7% respectively in 2016 is expected to be driven by the strengthening of the financial sector (following the comprehensive assessment by the European Central Bank and further progress towards the Banking Union), as well as recent structural reforms starting to bear fruit. Inflation is set to remain very low in 2014. As economic activity gradually strengthens and wages rise, inflation should increase, also helped by the recent depreciation of the euro.

(European Economy 7. November 2014. Brussels. PDF. 192pp. Tab. Free.)

KC-AR-14-007-EN-N (online)KC-AR-14-007-EN-C (print)
ISBN 978978-92-79-35350-5 (online)ISBN I978-92-79-36011-4 (print)
doi: 10.10.2765/76156 (online)doi: 10.2765/77321 (print)

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