European Economic Forecast. Spring 2018

Author (Corporate)
Publisher
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

Summary:

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.

Source Link https://ec.europa.eu/info/publications/economy-finance/european-economic-forecast-spring-2018_en
Alternative sources
  • http://publications.europa.eu/publication/catalogue_number/KC-BC-18-009-EN-N
  • https://ec.europa.eu/info/sites/info/files/economy-finance/ip077_en.pdf
Related Link(s)
Commentary and Analysis
Bloomberg, 03/05/2018: From ‘Dangerous’ Trump to Italy, Five Risks That Keep EU Awake https://www.bloomberg.com/news/articles/2018-05-03/from-dangerous-trump-to-italy-five-risks-that-keep-eu-awake

News
The Sofia Globe, 03/05/2018: EU spring forecast bumps up Bulgaria 2018 growth estimate to 3.8% https://sofiaglobe.com/2018/05/03/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 https://www.irishtimes.com/business/economy/eu-upgrades-irish-economy-but-warns-of-risks-1.3482723
LSM.lv, 03/05/2018: Commission cuts Latvia's GDP forecast due to banking and freight trouble https://eng.lsm.lv/article/economy/economy/commission-cuts-latvias-gdp-forecast-due-to-banking-and-freight-trouble.a277099/
EUObserver, 03/05/2018: Strong 2018 economy forecast spurs Commission optimism https://euobserver.com/economic/141747
Total Croatia News, 03/05/2018: Prime Minister Motivated by EU's Economic Forecast https://www.total-croatia-news.com/politics/27991-prime-minister-motivated-by-eu-s-economic-forecast
Politico, 03/05/2018: Commission warns against political uncertainty in Italy https://www.politico.eu/article/commission-warns-against-political-uncertainty-in-italy/
EurActiv, 03/05/2018: Trump’s policies could throw EU’s economic expansion ‘off track’, warns Commission https://www.euractiv.com/section/economy-jobs/news/trumps-policies-could-throw-the-economic-expansion-off-track-warns-commission/

Official
European Commission: DG Economic and Financial Affairs: Spring 2018 Economic Forecast https://ec.europa.eu/info/business-economy-euro/economic-performance-and-forecasts/economic-forecasts/spring-2018-economic-forecast-expansion-continue-amid-new-risks_en
European Commission: Press Release, 03/05/2018: Spring 2018 Economic Forecast: Expansion to continue amid new risks http://europa.eu/rapid/press-release_IP-18-3605_en.htm
European Commission: Commissioner Pierre Moscovici presents the 2018 Spring Economic Forecast http://europa.eu/rapid/press-release_SPEECH-18-3648_en.htm

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