|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 156|
|Publication Date||July 2021|
|Content Type||Blog, News, Report|
The European Commission published on 7 July 2021 its Summer economic forecast for the European Union (EU) and the Eurozone.
The Summer 2021 Economic Forecast projects that the economy will rebound faster than previously expected. This is due to the activity in the first quarter of the year exceeding expectations and the improved health situation, which prompted a swifter easing of pandemic control restrictions in the second quarter.
According to the forecast, the economy in the EU and the Euro area is set to expand by 4.8% this year and 4.5% in 2022. Real GDP is projected to return to its pre‑crisis level in the last quarter of 2021 in both the EU and the euro area. For the euro area, this is one quarter earlier than expected in the previous economic forecast.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Economic Governance | Situation|
|International Organisations||European Union [EU]|