Autumn 2021 Economic Forecast: From recovery to expansion, amid headwinds
![](https://ec.europa.eu/newsroom/repository/picture/2021-48/pexelslisa1730403_d9BJi2WBTxHASHqjJOZqxDOyvA_82740.jpg)
date: 30/11/2021
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.