European Economic Forecast. Spring 2021

Summary:

The European Commission published on 12 May 2020 its Spring economic forecast for the European Union (EU) and the Eurozone.

Further information:

The Spring 2021 Economic Forecast projects that the EU economy will expand by 4.2% in 2021 and by 4.4% in 2022. The euro area economy is forecast to grow by 4.3% this year and 4.4% next year. This represents a significant upgrade of the growth outlook compared to the previous economic forecast.

Growth rates will continue to vary across the European Union, but all Member States should see their economies return to pre-crisis levels by the end of 2022.

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News

Associated Press, 12/05/2021: EU economy to expand, bouncing back from pandemic crisis https://apnews.com/article/92cd5c307f3d24e38e71ce1aa279a439

EUObserver, 12/05/2021: Vaccine drives spur better-than-expected EU economic recovery https://euobserver.com/coronavirus/151847

Euronews, 12/05/2021: EU economy set to grow faster than expected thanks to vaccination https://www.euronews.com/2021/05/12/eu-economy-set-to-grow-faster-than-expected-thanks-to-vaccination

RTÉ News, 12/05/2021: Irish economy expected to rebound in second half of year, EU forecast https://www.rte.ie/news/2021/0512/1221130-european-commission-ireland-economy/

Times of Malta, 12/05/2021: EU sharply raises economic projections for Malta, eurozone https://timesofmalta.com/articles/view/malta-economy-seen-recovering-faster-than-the-eu-average.871354

The Guardian, 12/05/2021: EU economy forecast to rebound faster thanks to Covid vaccine https://www.theguardian.com/business/2021/may/12/eu-economy-forecast-rebound-faster-vaccine-covid-coronavirus-europe-economics

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Official

European Commission: Spring 2021 Economic Forecast: Rolling up sleeves https://ec.europa.eu/info/business-economy-euro/economic-performance-and-forecasts/economic-forecasts/spring-2021-economic-forecast_en

European Commission: Press Release, 12/05/2021: Spring 2021 Economic Forecast: Rolling up sleeves https://ec.europa.eu/commission/presscorner/detail/en/ip_21_2351

European Commission: Remarks by Commissioner Gentiloni at the press conference on the Spring 2021 Economic Forecast (12 May 2021) https://ec.europa.eu/commission/presscorner/detail/en/speech_21_2463

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