The EU economy began 2025 on a somewhat stronger footing than anticipated. It is projected to keep growing at a modest rate this year, with growth expected to pick up in 2026, despite heightened global policy uncertainty and trade tensions. The Commission’s Spring 2025 Economic Forecast projects real GDP to grow by 1.1% in 2025 […]
Autumn 2023 Economic Forecast for Spain
Following strong real GDP growth this year of 2.4%, economic activity is expected to slow down in 2024 to 1.7%. Headline inflation is projected to keep moderating over the forecast horizon, although upside risks persist. Based on unchanged policies, the general government deficit is set to remain slightly above 3% of GDP in 2024 despite […]
Summer 2023 Economic Forecast
The EU economy continues to grow, albeit with reduced momentum. The forecast revises growth in the EU economy down to 0.8% in 2023, from 1% projected in the Spring Forecast, and 1.4% in 2024, from 1.7%. It also revises growth in the euro area down to 0.8% in 2023 (from 1.1%) and 1.3% in 2024 […]
European Comission publishes the Winter Economic forecast for Spain
Spain weathered relatively well the negative shocks unleashed by Russia’s war of aggression against Ukraine in 2022. The resilience of the economy was underpinned by the strong rebound in tourism over the summer season and dynamism of private consumption, also supported by positive labour market developments. Compared to the Autumn Forecast, growth for 2022 is […]
Summer 2022 Economic Forecast: Russia’s war worsens the outlook
Russia’s war of aggression against Ukraine continues to negatively affect the EU economy, setting it on a path of lower growth and higher inflation compared to the Spring Forecast. The Summer 2022 (interim) Economic Forecast projects that the EU economy will grow by 2.7% in 2022 and 1.5% in 2023. Growth in the euro area is expected […]
Economic Forecasts 2022: Constraints on EU Growth
The winter 2022 economic forecast indicates that, after a remarkable 5.3% expansion in 2021, the EU economy will grow by 4.0% in 2022 and 2.8% in 2023. Growth in the euro area is also forecast to stand at 4.0% in 2022 and to moderate to 2.7% in 2023. Following the vigorous pickup in economic activity […]
Autumn 2021 Economic Forecast for Spain and the EU
The EU economy is rebounding from the pandemic recession faster than expected. As vaccination campaigns progressed and restrictions started to be lifted, growth resumed in spring and continued unabated through summer, underpinned by the re-opening of the economy. Despite mounting headwinds, the EU economy is projected to keep expanding over the forecast horizon, achieving a […]
Winter 2021 Economic Forecast
Europe remains in the grip of the coronavirus pandemic. The resurgence in the number of cases, together with the appearance of new, more contagious strains of the coronavirus, have forced many Member States to reintroduce or tighten containment measures. At the same time, the start of vaccination programmes throughout the EU provides grounds for cautious […]