Autumn 2021 Economic Forecast: From recovery to expansion, amid headwinds
![Paolo Gentiloni, European Commissioner for Economy, holds a press conference on the Autumn Economic Forecast. ©European Union](https://ec.europa.eu/newsroom/repository/picture/2021-45/P052229494934_f27zORk1zeInXhJvy75aFwQGOSo_81108.jpg)
date: 11/11/2021
See also: Autumn 2021 Economic Forecast
Despite mounting headwinds, the EUeconomy is projected to keep expanding over the forecast horizon, achieving a growth rate of 5%, 4.3% and 2.5% in 2021, 2022 and 2023 respectively. Growth rates for the euro area are projected to be identical to those for the EU in 2021 and 2022, and 2.4% in 2023. This outlook depends heavily on two factors: the evolution of the COVID-19 pandemic and the pace at which supply adjusts to the rapid turnaround in demand following the re-opening of the economy.