European Economic Forecast. Spring 2018

Author (Corporate)
Series Title
Series Details Number 77
Publication Date May 2019
ISBN 978-92-79-77458-4
ISSN 2443-8014
EC KC-BC-18-009-EN-N
Content Type


The European Commission published on 3 May 2018 its Spring Economic Forecast for the European Union, Eurozone and each member state.

Further information:

Growth rates for the European Union (EU) and the Euro area beat expectations in 2017 to reach a 10-year high at 2.4%. Growth was set to remain strong in 2018 and ease only slightly in 2019, with growth of 2.3% and 2.0% respectively in both the EU and the euro area.

Private consumption remained strong, while exports and investment increased. Unemployment continued to fall and remained in around pre-crisis levels. However, the economy became more exposed to external risk factors, which were strengthened and became more negative. Robust growth facilitated a further reduction in government deficit and debt levels and an improvement in labour market conditions. The aggregate deficit for the euro area was now less than 1% of GDP and was forecast to fall under 3% in all euro area Member States in 2018.

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Commentary and Analysis
Bloomberg, 03/05/2018: From ‘Dangerous’ Trump to Italy, Five Risks That Keep EU Awake

The Sofia Globe, 03/05/2018: EU spring forecast bumps up Bulgaria 2018 growth estimate to 3.8%
The Irish Times, 03/05/2018: EU upgrades Irish economy but warns of risks, 03/05/2018: Commission cuts Latvia's GDP forecast due to banking and freight trouble
EUObserver, 03/05/2018: Strong 2018 economy forecast spurs Commission optimism
Total Croatia News, 03/05/2018: Prime Minister Motivated by EU's Economic Forecast
Politico, 03/05/2018: Commission warns against political uncertainty in Italy
EurActiv, 03/05/2018: Trump’s policies could throw EU’s economic expansion ‘off track’, warns Commission

European Commission: DG Economic and Financial Affairs: Spring 2018 Economic Forecast
European Commission: Press Release, 03/05/2018: Spring 2018 Economic Forecast: Expansion to continue amid new risks
European Commission: Commissioner Pierre Moscovici presents the 2018 Spring Economic Forecast

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