|Author (Corporate)||European Commission: DG Economic and Financial Affairs|
|Publisher||Publications Office of the European Union|
|Series Title||European Economy: Institutional Papers|
|Series Details||Number 160|
|Publication Date||November 2021|
|Content Type||News, Report|
The European Commission published on 11 November 2021 its Autumn economic forecast for the European Union (EU) and the Eurozone.
The Autumn 2021 Economic Forecast projects that, despite mounting headwinds, the EU economy is projected to keep expanding over the forecast horizon. Most Member States are expected to reach the pre-pandemic volume of output by the end of 2021, while a few others will fully recover in 2022.
The EU economy 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.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Economic Governance | Situation|
|International Organisations||European Union [EU]|